Ninth UK-Ghana Business Council meeting focuses on global climate finance architecture

The ninth meeting of the UK-Ghana Business Council centered on the global landscape for climate finance and opportunities for green economic growth.

According to Vice President Dr. Mahamudu Bawumia who co-chaired the meeting with UK Minister for Development and Africa Andrew Mitchell, "Council members discussed the global climate finance architecture and welcomed Ghana's commitment to unlock climate financing to support a pipeline of impactful climate activities."

Areas of focus included carbon finance blends, electric vehicles, shipping, and developing a hydrogen economy.

At the meeting, Dr. Bawumia via a post on X Wednesday, January 31, said, they "welcomed the UK's announcement of the Green Cities and Infrastructure Technical Assistance Programme for Ghana. The programme will focus on delivering climate finance, low-carbon, climate-resilient infrastructure, and support cities to become hubs of innovation while bolstering sustainable economic growth."

Since it was founded in 2018, the UKGBC has helped facilitate major infrastructure projects in Ghana through financing agreements.

The Vice President noted that "the UKGBC has made very significant progress, resulting in financing agreements for such key Ghanaian projects as Phase II of the Kumasi International Airport, expansion of the Tamale International Airport, Kejetia Phase III, and completion of the Bekwai Hospital."

After the meeting, two memoranda of understanding were signed to foster partnerships.

One was between the UK's Society of Motor Manufacturers and Traders' Industry Forum and Ghana's Auto Development Centre focused on "skills, knowledge and technology transfer partnerships."

The other centered on a "Science, Technology and Innovation MoU to drive economic prosperity through science and technology."

The agreements aim to deepen UK-Ghana cooperation on climate action and sustainable development.