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80 per cent of MCA funds spent on development

Ghana has spent the bulk of the Millennium Challenge Account (MCA) from the US government. The MCA was set up five years ago to assist the country with developmental projects. Over 80 % of the 547 million dollars has so far been spent.

In August 2006, the US- government set up the MCA fund in an attempt to reduce poverty in Ghana. The money has been invested in agricultural, transport and rural development.

To date Ghana has spent $460million on various projects. As the five year package comes to an end the US has announced Ghana will receive further developmental assistance.

The US government says Ghana is likely to receive between $350 million and $400 million in the second round of development funding.

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