MONROVIA – The Minister of Finance and Development Planning, Augustine Ngafuan, has announced that the Board of Directors of the Millennium Challenge Corporation (MCC) will convene early next week to deliberate on Liberia’s eligibility for a new MCC Compact.
This announcement comes following official communication from Alicia Robinson-Morgan, the Deputy Vice President for Compact Operations at the MCC, to Finance Minister Ngafuan, who addressed a press conference on Monday, July 28.
In a special interview, Minister Ngafuan expressed optimism regarding the upcoming board meeting, highlighting the positive sentiment of MCC board members towards Liberia. “We are hopeful and optimistic,” he stated. “The love that individual board members of the MCC has for Liberia gives us confidence that this reaffirmation will be successful.”
Ngafuan, however, clarified that, despite ongoing discussions, no specific funding amounts have been confirmed. This revelation counters recent media reports suggesting that Liberia could receive up to $500 million under the new Compact.
“The MCC has not announced any definitive amount,” he emphasized, calling the figures circulating in the media speculative. Notwithstanding, he clarified that when the ‘greenlight’ is given from the MCC Board, a “constraint analysis” will be done and after this process, it will be costed. Based on the costs of the constrains, the amound could be higher the reported US$500M or less than it.
The Finance Minister attributed the progress in discussions to President Joseph Boakai’s recent high-level engagements in the United States.
He noted that the Liberian leader’s advocacy and diplomatic outreach have been instrumental in advancing the conversation regarding the MCC Compact, which aims to bolster economic development in Liberia.
As anticipation builds for the MCC board’s decision, both government officials and citizens remain hopeful for a favorable outcome that could pave the way for significant investment in Liberia’s future.
