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

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    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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    $1.1 Billion Senegal's postponed Ndayane Deep Waterport to be Constructed in Coalition with DP World

    A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development

    $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa's established Broadband Coverage by 2030

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    • A twin Currency Trade Finance Line of Credit of $50 Million and €50 Million has been validated by the Board of Directors of the African Development Bank Group and the ECOWAS Bank for Investment and Development
    • $100 Billion in Investment is needle for the Modernization and Harmonization of Regulatory Framework to boost Africa’s established Broadband Coverage by 2030
    • Nigeria Launches National Domestic Payments Card Program
    • In Guinea-Bissau, ECOWAS Parliament held a 3 Day Seminar on the Adoption of a Single Currency for Member African States

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