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first_imgThe Board of Directors of the Millennium Challenge Corporation (MCC) has approved US$256.7 million grant to Liberia under the Millennium Challenge Compact program.The grant was approved during the MCC Board’s annual meeting held on September 7, in Washington D.C and chaired by U.S. Secretary of State John Kerry.The Board’s approval now paves the way for the formal signing of a bi-lateral agreement (to be known as the Liberia Compact) between the Liberian and U.S. governments to be held in the United States by October.It will fund projects in electricity, road maintenance, reforms and capacities building and also replace the damaged water supply line from Mt. Coffee Hydro Plant to the White Plains Water Treatment Plant.Finance and Development Planning Minister Amara M. Konneh will sign on behalf of the Government of Liberia, while Ms. Dana Hyde, CEO of the Millennium Challenge Corporation, will sign on behalf of the US Government.Upon signing, the Compact will be submitted to the Liberian National Legislature for ratification.The Liberian government, through the Ministry of Finance and Development Planning, has welcomed the news and praised the U.S. Government for the Compact Grant, noting that it will significantly impact the lives of ordinary Liberians through poverty reduction, job creation and economic growth.The Finance Ministry noted that Liberia’s road to the Compact began in 2008 with the Threshold Country Program through which the U.S. Government provided US$15 million grant to support the Liberian government’s interventions to increase girls’ primary education completion, land rights and access, and to improve Liberia’s trade policy, all of which have contributed to Liberia’s recovery.The Compact program is competitive, and requires countries to meet key indicators relevant to economic and political governance. These include ‘Governing Justly’, which measures the protection of civil rights including the right to free speech; and ‘Control of Corruption’, measuring government’s transparency and accountability in public financial management. Liberia continues to make progress on those and other key indicators, in spite of the many challenges.Meanwhile MFDP has disclosed that MCC CEO Hyde has telephoned President Ellen Johnson-Sirleaf to inform her of the MCC Board’s decision and congratulated her for Liberia’s success in securing the MCC Compact Grant.The MCC Board has also approved a Compact Grant with Morocco and a Threshold Program with Sierra Leone. Share this:Click to share on Twitter (Opens in new window)Click to share on Facebook (Opens in new window)last_img read more

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first_imgTHE BRITISH investigators who brought crooked criminal Francois de Dietrich to justice are appealing for conned victims to come forward.The Financial Services Authority in the UK has issued a public statement requesting investors to come forward. Donegaldaily understands that this is now the only way people who did give him cash will get their money back.In the statement, the FSA said: “We would like investors who had dealings with Francois de Dietrich or ETIC Solutions Ltd to contact us to provide details of their transactions.“This comes after we obtained a court order freezing their assets and requiring de Dietrich to provide certain information, which he has failed to comply with.“We obtained an order from the High Court in Northern Ireland against de Dietrich and ETIC Solutions Ltd (ETIC) on 27 October 2010, restraining any potential unauthorised activity and freezing ETIC’s and de Dietrich’s assets up to the value of £20.2m. “On 28 January 2011, de Dietrich was sentenced to 18 months imprisonment for contempt of court after he failed to disclose the whereabouts of his overseas assets as required by the terms of the High Court order, or respond to our requests for further information.”The statement went on: “Both de Dietrich and ETIC are believed to have been behind an unauthorised investment scheme.“The court order was taken out to preserve the funds and other assets held by de Dietrich and/or ETIC until the court decides whether he has broken the law. The court will also decide how much money, if any, should be returned to investors and other creditors.“Meanwhile, we are continuing our investigation into the activities of de Dietrich and ETIC.”The FSA also provided some answers to investors on whether or not they will get their money backOn this issue, the organisation said: “With the court orders in place, de Dietrich and ETIC may not accept money from, or pay money to, any person as part of the ETIC business. This includes a restriction on paying out funds to investors. “If you paid money to de Dietrich and/or ETIC and they did not have our authorisation to offer financial services, you will not be able to take a complaint to the Financial Ombudsman Service or have access to the Financial Services Compensation Scheme.”The statement went on: “We need to identify all investors, so if you have not had contact with us about this matter you should call our Contact Centre on 00 44 845 606 1234 or email consumer.queries@fsa.gov.uk. It will help us with this case if you provide your full name, a phone number, postal and email addresses.“Be aware that we are subject to strict statutory obligations of confidentiality, which mean we can only provide certain information to third parties. However, we will provide further updates on this case as soon as possible.”De Dietrich ran a dodgy get-rich-quick scheme – taking millions of euro from 200 investors in Donegal. The scheme was a fraud, designed to con people out of their cash.The Ballybofey businessman has fled Ireland and is now on-the-run from cops throughout Europe.He is believed to be in hiding in Estonia.FRANCOIS INVESTIGATION: REGULATORS APPEAL FOR VICTIMS TO CONTACT THEM was last modified: March 2nd, 2011 by gregShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more

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