The Prime Minister, Mr. Samuel Ntsokoane Matekane says the Millennium Challenge Account (MCC) Compact ll is operational with effect from March 31, 2024.
Mr. Matekane said this when sharing a progress report on the compact during a press conference held in Maseru on Tuesday.
He said the compact’s operation comes after receiving an implementation letter from MCC confirming and unlocking 300 million US dollars in investment between Lesotho and the US government starting from March 31.
This, according to the Prime Minister means that a five-year countdown has started, thus called the Millennium Challenge Account team from top to operatives to ensure successful implementation of the compact within the five-year stipulated period.
“We owe it to ourselves to improve the economy through successful implementation of this compact,” he stressed.
Similarly, the Deputy Prime Minister (DPM), Justice Nthomeng Majara assured the nation that the government worked tirelessly for the realisation of Compact ll.
Among others, she mentioned the passing of the Appropriation Bill to allow budget presentation before March 31 as a sign of commitment in this regard.
Meanwhile, the Agency has further established that at least 23 members of the MCA board are already in operation to oversee the undertaking of the Compact. Furthermore, more members are to be recruited as at least 55 members in total are needed within MCA to support the entire process.
Present at the presser included the Minister of Finance and Development Planning, Dr Retšelisitsoe Matlanyane and other officials including media stakeholders.
The overall goal of Compact ll as outlined in previous meetings of the Lesotho Health and Horticulture Compact include assisting the country in unlocking sustainable and equitable economic growth in collaboration with the private sector by addressing key growth and constraints.
This is targeted to benefit 2.5 million people by strengthening and organising the private sector in Lesotho and improving the government’s critical services.
Source: LENA 03/04/2024
