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    BREAKING NEWS
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    $450 Million Bargain Rivets Burkina Faso and the United States Government‘s Millennium Challenge Corporation in a Blueprint to Bolster Access to Electricity

    Posted On 26 Aug 2020
    By : New Africa Business News, Staff Correspondent
    Comments: 14

    By Abdul Rahman Bangura–

    Photo Credit: Pexels

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Seemingly, the $450 million agreements were formulated in cooperation with the government of Burkina Faso and shall subsidize in the power sector to stretch and maintain the country’s economic growth.

    “We are marking a new chapter in the partnership between the United States and the people of Burkina Faso with the signing of this second MCC-Burkina Faso Compact,” stated MCC Chief Executive Officer-Sean Cairncross.

    “This compact will address the high cost, poor quality, and low access to electricity in Burkina Faso and will also support the country’s increased participation in regional power markets and the development of a potential MCC regional investment.”

    In upswing to the $450 million that MCC has promised for this second compact, the administration of Burkina Faso has agreed to invest $50 million toward the compact’s projects.

    New Africa Business News
    Africa’s Fastest Growing Global Newspaper. Forward www.newafricabusinessnews.com

    The combined investment of $500 million is estimated to profit eight million people in Burkina Faso through strengthening laws and institutions, improving energy infrastructure, increasing generation capacity, and source diversification. This will include exceptional access to electricity for citizens in Burkina Faso’s two largest cities—Ouagadougou and Bobo-Dioulasso.

    This second compact will build on the success of MCC and Burkina Faso’s, which closed in 2014. The first compact invested $480 million in agriculture, land tenure, water management, roads, and girls’ education. Before the completion of the first compact, the project has been retained by pertinent Burkinabe government ministries.

     

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    Start Voting for New Africa Business News Person of the year 2020. Nomination Starts July 04 & Ends December 15/ 2020. Please Submit your Nominee’s Name, Country, Brief Reason for the Nomination. Please Limit Submission to 50 words and One Submission per Person. Email all Nomination to info@newafricabusinessnews.com. New Africa Business News Person of the year will be Announced January 01/ 2021. New Africa Business News. Africa’s Most Read and Fastest Growing Global Newspaper.  www.newafricabusinessnews.com 

     

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    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

    About the Author
    New Africa Business News Staff Correspondent
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    14 Comments

    1. Ntombi August 26, 2020 at 2:56 am Reply

      Always enjoy reading your online newspaper. Thank you. Johannesburg South Africa. Ntombi

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:10 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Euodia August 26, 2020 at 3:15 am Reply

      Journalist Abdul Rahman thanks for reporting and your team. I will vote for you as Africa’s journalist of the year, anytime. Love it. Euodia in Massai, Tanzania

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Uwineza August 26, 2020 at 3:28 am Reply

      Africa rising. Mama Africa. Time to build Motherland our own. Thank you for reporting. Kigali Rwanda. Uwineza

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Samihah August 26, 2020 at 3:40 am Reply

      Fan of your online newspaper. Very grateful to be able to read your reports. Thank U. Accra Ghana. Samihah

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Tadiwanashe August 26, 2020 at 3:53 am Reply

      Extremely excited about the future of our great Continent. Our youths are doing great job. Thanks to technology. Will get their. Harare Zimbabwe. Tadiwanashe

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    6. Keanjaho August 26, 2020 at 4:01 am Reply

      Thank U, for signing me to your newspaper’s newsletter. Nairobi Kenya. Keanjaho

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    7. Balguissa August 26, 2020 at 4:09 am Reply

      We are grateful to the people of the United States. Great investment. Merci! Ouagadougou Burkina Faso. Balguissa

      • New Africa Business News, Staff Correspondent August 26, 2020 at 4:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

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