The 2017/2018 scorecard of the Millennium Challenge Corporation has shown that Liberia failed in the area of fiscal policy, regulatory framework and Land rights access under its compulsory indicators.
Millennium Challenge Corporation is an agency of the United States Government which provides grants to lower income Countries that are eligible and performing in its governance for sustainable growth and development.
At a one day engagement with media institutions in Monrovia the Chief Executive Officer of the Millennium Challenge Account Liberia, Monie Captan disclosed that Liberia also felt short in governance effectiveness and the rule of law.
He said the Millennium Challenge Account Liberia in 2013 identified the lack of affordable electricity and paved roads as major limitations to economic development in the Country, a constraints analysis sponsored by the Liberian Government.
Monie Captan who recognizes Liberia’s consistency in meeting the MCC preconditions also called for improvement in priority areas.
According to him, the MCC funding by donors towards electricity in Liberia is approximately Six hundred million dollars with the Mount Coffee Hydropower consuming around $ 350 million.
Speaking on behalf of the Liberian Government, Information Minister Eugene Nagbe termed the lack of stable electricity and road construction as some key effects hindering development in Liberia.
Minister Nagbe also stated that the Millennium Challenge Corporation 2017 scored card provides an opportunity to review the Country’s performance in the terms of Governance.
For his part, the President of the Press Union of Liberia, Charles Coffee lauded the Millennium Challenge Corporation for the one-day media engagement, terming it as rewarding. PUL President Charles Coffee said the meeting also provided understanding for Journalists report on effective Compact Programs in the Country.