19.10.2004 Business & Finance

Ghana receives £20m grant from the UK

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Accra, Oct. 19, GNA - The British Government has given Ghana a grant of 20 million pounds (=A2325 billion) as budgetary support. The grant was disbursed as part of the performance tranche of the Multi Donor Budget Support (MDBS) Programme, to help the Government to implement the Ghana Poverty Reduction Strategy.

A statement from the British High Commission on Tuesday said the performance tranche was disbursed to complement Government's satisfactory economic performance.

In June 2003, the British Government made available to Ghana up to 110 million pounds (=A21.78 trillion) as direct budget support for three years. The British Government has committed a total of 66.7 million pounds as direct budget support under the Multi-Donor Budget Support framework.

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