1. ECONOMY OF GHANA GROUP (12) PRESENTATION 1 TOPIC: “ THE CONTRIBUTIONS OF THE U.S $547 MILLION MILLENNUIM CHALLENGE ACCOUNT(MCA) TO THE GROWTH OF THE GHANAIAN ECONOMY” LECTURER: DR. RAYMOND DZIWORNU

2. Overview of our presentation 2 1) INTRODUCTION 2) BODY: i. Distribution of $547 million to the various projects. ii. Agriculture Project iii. Transportation Project iv. Rural Development Project v. Contributions of the MCA 3) CONCLUSION

3. INTRODUCTION 3 WHAT IS THE MILLENNIUM CHALLENGE ACCOUNT(MCA)? The MCA was managed by the Millennium Challenge Corporation(MCC). How did Ghana become a beneficiary of the MCA? SOURCE: ghanaweb

4. 4 The goal of the MCA was “ poverty reduction through growth” The five-year compact took off in February 16 th, 2007 and was expected to be completed in 2012. MiDA focused on projects in the areas of agriculture, transportation and rural development in 23 districts in the Northern, Central, and Eastern Regions.

5. THE TABLE BELOW SHOWS THE DISTRIBUTION OF THE US$547 MCA TO THE VARIOUS PROJECTS. 5 DESCRIPTION AMOUNT IN US $MILLION AGRICULTURE PROJECTS 241.0 TRANSPORTATION PROJECT 143.1 RURAL SERVICE PROJECTS 101.3 PROGRAM AND AUDIT 46.6 MONITORING AND EVALUATION OF PROGRAM 15.0 TOTAL 547.0

6. SOURCE: ghanaweb 6 The three main areas targeted under the MCA were: Agriculture; With the help of the Ghana Irrigation Development Authority, retention ponds and wells were established for farmers. Transportation Project; Roads were constructed Ferries and landing terminals were also constructed. Highways were upgraded. SOURCE: ghanaweb

7. Rural Development Project; Water extension project Automation and interconnection of rural banks, Construction and rehabilitation of educational facilities. 7 The five-year compact was released in installments over a five-year period. After the release of the funds for the first year, effective monitoring and evaluation was crucial to keep funded programmes on track. MONITORING AND EVALUATION SOURCE: ghanaweb

8. CONTRIBUTIONS OF THE US$547 MILLION TO THE GROWTH OF THE GHANAIAN ECONOMY 8 It has helped in the training of more than 66000 farmers in commercial farming. Availability of credit facilities to farmers. The Kpando-Torkor farm on the east banks of Lake Volta received MCC-funded training and capitalizing on the export market. SOURCE: ghanaweb

9. 9 Schools were constructed to give education to children living in rural areas and rural banks created employment opportunities. Construction of roads and the rehabilitation of others have helped farmers to transport farm produce from the rural areas to urban markets. The construction of the Tetteh Quarshie Interchange to Apenkwa and from Apenkwa to Mallam Junction has helped alleviate unacceptable traffic congestion levels in the urban areas. SOURCE: ghanaweb

10. CONCLUSION 10 In conclusion we say that, the Millennium Challenge Account has been of great advantage to the Ghanaian Economy by improving the lives of farmers and reducing poverty, through the construction of roads, provision of infrastructure to the rural areas and widening access to credits and savings among others. These have generally increased the standard of living of the local people. END OF PRESENTATION