The government's Second Compact with the Millennium Challenge Corporation (MCC) is moving into a critical phase, with the U.S. agency projecting completion of the Joint Design Phase by May 2027 and possible Board consideration and approval of the Compact by September 2027.
The timeline emerged from high-level discussions between Finance and Development Planning Minister Augustine Kpehe Ngafuan and senior MCC officials at the Corporation's headquarters in Washington, D.C.
MCC Acting Deputy Vice President for Africa Alicia Robinson-Morgan said the Corporation is optimistic that Liberia's Joint Design Phase can be completed by May 2027, paving the way for consideration of the Second Compact by the MCC Board in September.
She further expressed confidence that, subject to the completion of all required processes and approvals, a Liberian delegation could return to Washington in December 2027 for the official signing of the Second Compact.
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The discussions focused on accelerating the Compact development process, with Minister Ngafuan reaffirming the Government of Liberia's commitment to moving the initiative forward under the leadership of President Joseph Nyuma Boakai.
Ngafuan said Liberia has made significant progress in transitioning the Compact process into the Joint Design Phase, during which the Liberia Compact Development Team (LCDT) and MCC are jointly developing and refining proposed projects for consideration under the Second Compact.
He stressed that the government is committed to creating the policy and regulatory conditions necessary to attract greater private-sector investment in Liberia's electricity sector, particularly in power generation and distribution.
The Finance Minister said the government would provide the necessary support to accelerate the development and approval process, emphasizing that efforts to fast-track the Compact have the full backing of the Boakai administration.
The meeting brought together Robinson-Morgan; MCC Acting Managing Director for Africa Carrie Monahan; MCC Country Director for Liberia Kevin George; LCDT National Coordinator Alieu Fuad Nyei; and other senior officials.
Robinson-Morgan commended the Liberian government for the pace at which the Compact development process has advanced.
She also praised the LCDT, under the leadership of Nyei, for its work and coordination in advancing the development process.
The Second Compact is expected to focus on transformative investments and reforms aimed at supporting sustainable economic growth, improving electricity access and reliability, strengthening private-sector investment and promoting inclusive development.
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The government said it remains committed to working closely with MCC and other stakeholders to ensure that the Compact delivers investments and reforms capable of addressing critical development constraints in Liberia.
