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Germany commits 130 million Euros to Ghana's development over the next three years

GNA
18 May 2012 | Business & Finance

Accra, May 17, GNA - Germany on Thursday agreed to commit 130 million Euros in technical and financial support to Ghana over the next three years spanning 2012 - 2014 fiscal years.

In addition, 2.8 million Euros from commitments made in 2009 has been reprogrammed to the pilot phase of the photovoltaic project under the renewable energy programme, bringing commitment to 132.817 million for the period.

The funds will be used in areas of decentralisation, agriculture and sustainable economic development.

Other areas include multi-donor budget support and good financial governance.

The commitment follows the successful conclusion of two-day bilateral negotiations between the two countries in Accra.

Mr Fiifi Kwetey, Deputy Minister of Finance and Economic Planning, acknowledge the continuous support of the German Government to Ghana's development efforts.

Ms Jualia Kaiser, Head of the German Delegation, highlighted the fruitful cooperation and assured that Germany would continue to be a reliable and strong partner.

She reiterated the commitment of Germany to support renewable energy and its related activities such as the photovoltaic project.

Ghana's cooperation with Germany has so far yielded 1.25 billion Euros in projects and programmes aid since 1960.

GNA

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