{"id":2454,"date":"2026-05-20T08:38:09","date_gmt":"2026-05-20T08:38:09","guid":{"rendered":"https:\/\/mida.gov.gh\/staging\/3036\/?page_id=2454"},"modified":"2026-05-20T08:42:40","modified_gmt":"2026-05-20T08:42:40","slug":"press-release-mcc-gpc-2","status":"publish","type":"page","link":"https:\/\/mida.gov.gh\/staging\/3036\/press-release-mcc-gpc-2\/","title":{"rendered":"Press Release – MCC – GPC"},"content":{"rendered":"\t\t
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Readout of the September 2016 MCC Board of Directors Meeting\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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For Immediate Release\n\n\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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September 15, 2016\n\n<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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WASHINGTON, DC, September 14, 2016 \u2013 At its quarterly meeting on September 14, the Millennium Challenge Corporation\u2019s (MCC) Board of Directors approved the annual Selection Criteria and Methodology Report for fiscal year 2017 \u2013 a public document that explains how the Board will identify, evaluate and determine country eligibility for MCC assistance for 2017. The Board also received an update on MCC\u2019s Ghana Power Compact and new analysis of the agency\u2019s economic rates of return for completed compacts.<\/p>

Selection Criteria & Methodology Report for Fiscal Year 2017<\/strong><\/p>

The Board approved the annual Selection Criteria and Methodology Report for fiscal year 2017. This public document explains how the Board will identify, evaluate and determine country eligibility for MCC assistance for 2017. Decisions about country eligibility will be made at the Board\u2019s next meeting in December. The Board briefly discussed two small changes to the report: first, strengthened language around the importance of democratic rights; and second, a new sub-section in the report that outlines the type of information the Board could use when considering countries with a high potential of transitioning to upper middle income country status during the life of an MCC partnership. The Board also discussed MCC\u2019s ongoing research into different ways of measuring poverty.<\/p>

Ghana Power Compact<\/strong><\/p>

The Board welcomed the announcement that the $498 million Ghana Power Compact entered into force on September 6, 2016.\u00a0 This milestone was achieved following the release of tender documents for private sector participation in the management of the Electricity Company of\u00a0Ghana, which was a condition for the compact moving forward.\u00a0The five-year Ghana Power Compact will support the Government of Ghana in creating a financially viable power sector that meets the current and future needs of Ghanaian households and businesses\u2014and ultimately helps fight poverty across the country. At the heart of the compact is a strong commitment from the Government of Ghana to implement reforms needed to transform the power sector and put it on a path toward profitability and sustainability, creating an environment that will attract private investment. The government has pledged to invest at least $37.4 million in support of the compact, which is expected to catalyze more than $4 billion in private energy investment in the coming years. Read more about\u00a0MCC\u2019s Ghana Power Compact<\/a>.<\/p>

Close-Out Economic Rates of Return<\/strong><\/p>

The Board heard an update on new MCC analysis of economic rates of return (ERRs) for completed compacts. As part of its commitment to rigor, transparency and learning, MCC works to calculate ERRs both before a project has been launched \u2013 to ensure it passes the agency\u2019s 10 percent \u201churdle rate\u201d \u2013 and again after the compact has closed. MCC has found that the average weighted closeout ERR is 15.2 percent, well above the hurdle rate, and that 71 percent of closeout ERRs exceed the hurdle rate. At the same time, the majority of closeout ERRs are below their original ERRs. MCC has not been able to identify any patterns across sector, project size or country income levels, and plans for further research to identify factors that may be at play, including cost increases and changes in project scope. Read more about MCC\u2019s Economic Rates of Return.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Source: MCC.gov<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Readout of the September 2016 MCC Board of Directors Meeting<\/p>\n","protected":false},"author":2,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"nf_dc_page":"","footnotes":""},"class_list":["post-2454","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/pages\/2454","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/comments?post=2454"}],"version-history":[{"count":3,"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/pages\/2454\/revisions"}],"predecessor-version":[{"id":2457,"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/pages\/2454\/revisions\/2457"}],"wp:attachment":[{"href":"https:\/\/mida.gov.gh\/staging\/3036\/wp-json\/wp\/v2\/media?parent=2454"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}