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17.06.2004 Business & Finance

France cancels 116 million Euros debt owed by Ghana

By GNA

Accra, June 17, GNA - The relationship between Ghana and France was on Thursday given a further boost with the cancellation of 116 million Euros of debt owed to France by Ghana.

In addition, the French Government has given Ghana National Peer Review Governing Council 100,000 Euros for its activities.

Mr Xavier Darcos, the visiting French Minister in-charge of Co-operation, Development and Francophony, who announced this to newsmen in a pre-departure interview at the Kotoka International Airport in Accra, did not give details on the debts cancellation.

Mr Darcos, who paid a two-day visit to Ghana, said France had also signed a 1.5 million Euros financial assistance for some projects in Ghana.

He said the relationship between the two countries had deepened on the economic, political and cultural fronts, adding "the economic partnership between Ghana and France has opened the business frontiers where French businesses are determined to invest in Ghana, while Ghanaian products are making in-roads into French markets". Mr Darcos said the political stability in Ghana could be used as a springboard to bring peace to La Cote d'Ivoire and the West Africa Sub-Region.

He commended President John Agyekum Kufuor for his leadership role and efforts by the Economic Community of West Africa States (ECOWAS) to bring peace and economic stability to the Sub-Region. Mr Darcos said France had endorsed the New Partnership for Africa's Development (NEPAD) Initiative and commended Ghana's efforts for being the first country to subject herself to the African Peer Review Mechanism (APRM).

He said peace must be achieved at all cost in Cote d'Ivoire to pave the way for elections in 2005 and asked all the warring factions to respect the Marcoussis Accord for a lasting solution to the crisis. 17 June 04

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