US, Ghana Conclude Talks on $500 Million Compact for Energy Sector

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ACCRA, Ghana — The United States and Ghana will soon conclude negotiations for a second Millennium Challenge Compact worth $500 million for projects in the energy sector.

The U.S. Ambassador to Ghana Gene A. Cretz, who announced this during a reception at his residence in Accra to mark the country’s 238th independence, said: “We have been keen on helping Ghana to develop its critical power sector.”

Cretz recently joined Vice President Amissah-Arthur to lead a high-level delegation of Ghanaian government officials and private sector companies to Houston, Texas, where they participated in a global conference on offshore oil and gas.

“We are confident that trip will lead to more involvement by American companies in developing Ghana’s petroleum resources,” he noted.

Cretz said President Barak Obama would host the U.S.-African Leaders Summit, which would focus largely on trade and investment, in August.

“We are delighted that President John Dramani Mahama will be leading a strong delegation to Washington, D.C., to take part in this historic event,” the U.S. envoy stated.

According to the ambassador, the state of the bilateral relationship between Ghana and the U.S. has never been better and America’s commitment to the welfare and development of Ghanaians has never been more evident.

He observed that Ghana had become one of the United States’ most important partners on the African continent.

Currently, Ghana and the U.S. work together on a wide range of issues regarding economic growth and development, democracy and good governance, peace and security.

The Minister of Education Naana Jane Opoku-Agyemang, who led a government delegation to the anniversary celebration, said Ghana continued to face formidable challenges in the area of energy generation.

 

Read more at ghanaweb.com

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