Ghana Gets $5.33m Support From China

THE CHINESE Government through its continuous economic and technical support to the nation has granted the government of Ghana the sum of $5.33 million for various developmental projects in the country.

The facility consists of an interest-free loan of $4.0 million and a grant of $1.33 million.

The support is the third in 18 months after the Chinese government has extended similar facilities to the nation.

The Chinese has also cancelled the nation's debt of $20 million.
Initialing for Ghana was the Minister of State in charge of Finance and Economic Planning, Dr. Osei Akoto, while Yu Wenzhu, the Chinese Ambassador to Ghana signed on behalf of his country.

At a short signing ceremony in Accra, the Chinese Ambassador to Ghana said the various supports by his country were to help the nation attain the middle-income status that it was gearing towards.

“In order for Ghana to be successful at the micro and macro levels of the economy, the Chinese need to help with the economic drive,” he said, adding, “We will do this to the best of our ability.”

The Ambassador indicated that the two countries would work closely to ensure success in their various endeavours.

Dr. Osei Akoto, recounting some of the Chinese-supported developmental projects like the on-going 400 megawatt Bui Dam Hydro-electric project as well as some irrigation projects, thanked China for always providing aid facilities to the country and gave the assurance that the monies would be put to the appropriate use.
By Patrick Baidoo