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General News | Apr 21, 2004

UK Grants Ghana £15 Million

GNA

Accra, April 21, GNA - The United Kingdom has released 15 million pounds sterling (242 billion cedis) in aid grant to Ghana. A release from the British High Commission in Accra on Wednesday said the grant was released on April 14 2004.

It said the grant was part of the base tranche for the nine-donor 2004 Multi Donor Budget Support (MDBS) Programme that provided direct support to the Ghana Government's budget to implement the Ghana Poverty Reduction Strategy (GPRS).

The release said in addition to this, a further 20 million pounds sterling (323 billion cedis) would be disbursed when the Government satisfactorily completes the MDBS performance triggers, which is expected later in the year.

It said in June last year, the British Government made available to Ghana up to 110 million pounds sterling (1.78 trillion cedis) as direct budget support over three years to 2006.

The release said since then, the British Government had made available to Ghana a total of 46.7 million pounds sterling as direct budget support under the MDBS framework.

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