MCC agrees infrastructure grants totalling $676m
- 05 Nov 2015
| 5 minute read
The US Millennium Challenge Corporation (MCC) has approved five-year compact agreements with Benin and Liberia, worth $375m and $257m respectively, and a $44.4m threshold agreement with Sierra Leone. The grant packages are intended to develop infrastructure in the three countries, with a focus on electricity in line with the MCC’s intention to invest $2bn in support of the Power Africa initiative. Liberia’s compact agreement was signed with the MCC on 2 October but required ratification by the country’s House of Representatives and Senate before it could be passed into law.
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