Ghana and China sign $ 42.62 million grant agreement

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The Chinese government offered Ghana a grant of $42.62 million for economic and technical projects implementation.

The economic and technical cooperation agreement was signed on Thursday by Chinese Ambassador to Ghana Wang Shiting and Kenneth Ofori-Atta Ghana’s Finance Minister.

This follows Madam Sun Chunlan China’s First Premier visit to Ghana where she had promised to give the grant to finance some economic and technical projects.

The Minister of Finance, Ken Ofori-Atta commended the Chinese government for its continuous support to Ghana during the signing ceremony in Accra

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“We would like to acknowledge the immense support the government of the People’s Republic of China has provided Ghana over the decades especially in the areas of infrastructure, information communication technology, trade and investment, tourism and education including technical vocation education training,” he said.

Mr Ofori-Atta said the grant would be used in the areas of technical and vocational education. He added that the Ministry of Foreign Affairs would use the grant to enable it to prepare to host the African Continental Free Trade Area Secretariat.

The Minister of Finance said Ghana’s government is working to create an enabling environment for the private sector to grow. Adding that the government had introduced tax reforms and both interest rates and inflation was on the decline.

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Mr Ofori-Atta said the government’s effort to make Ghana the most attractive destination in West Africa for Foreign Direct Investment (FDI), was yielding the needed results.

As per the UNCTAD report for 2018, Ghana has become the number one FDI destination in West Africa he added.
Mr Ofori-Atta said the efforts to improve Ghana’s economy and business-friendly environment, has ensured the continuous presence of a number of multinational corporations such as automobile giants, global energy and tech giants like Huawei.

The Chinese Ambassador to Ghana,Mr Wang said China would continue to support the development of Ghana. He added that China had supported several Synohydro and technical and educational projects and would soon donate 100 vehicles to Ghana.

“As the ambassador of China to Ghana, I will also do my best to work closely with the government of Ghana, to bring a better life to the people of Ghana, and to improve the friendship of China and Ghana. The prospects for cooperation between China and Ghana will surely be broadened,” Mr Wang said.

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