MCC: Côte d’Ivoire receives additional $4.4 million to prepare Regional Energy Compact
Increased funding for a strategic project
On September 18, 2024, the Board of Directors of the Millennium Challenge Corporation (MCC) approved the Regional Energy Compact Program. In this context, Côte d’Ivoire benefits from an amendment to the Compact Development Fund (CDF). The amount increases from $750,000 to $4.4 million. This increase is intended to facilitate the development of the project.
Official signing in Washington
The rider was signed in Washington on October 25, 2024. The event was attended by a number of personalities, including :
- Adama Coulibaly , Minister of Finance and Budget
- Cameron Alford , Vice President of Compact Operations ;
- SEM Ibrahim Touré , Ambassador of Côte d’Ivoire in Washington DC ;
- Isabelle Akaffou , Technical Advisor to the Minister of the Economy, Planning and Development.
Members of the MCC Board of Directors were also present, including :
- Kim Kyeh , Assistant Vice President, Compact Operations Department ;
- Dan Barnes , General Manager Selection and Eligibility ;
- Aliyah Dash , Senior International Lawyer.
Funding for several key actions
These funds will make it possible to :
✅ Support the Cellule Technique de Formulation (CFPCR-MCC) , responsible for project preparation.
✅ Fund the recruitment of consultants to carry out the necessary studies.
✅ Rapidly set up the management team of the future governance structure.
A major project for energy integration
The Regional Energy Compact aims to:
🔹 Strengthen the regional electricity market within ECOWAS .
🔹 Modernize the Ivorian power grid for more affordable access to electricity.
🔹 Support institutional reforms for greater regional integration.
An investment of $322.5 million until 2031
The program is funded to the tune of $322.5 million. Its operational phase will run from 2026 to 2031.