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08.11.2004 General News

Ghana and Netherlands signs two agreements

By GNA

Accra, Nov 8, GNA - Ghana and the Netherlands on Monday signed two agreements, involving an additional 6.5 million Euro Dutch government contribution to the Multi Donor Budgetary Support (MDBS) Framework and a 8.5 million Euro Dutch mixed ORET grant agreement for the construction of the Sefwi-Wiawso-Benkyema junction road.

The agreement brings the Netherlands government contributions to the MDBS to 16.5 million Euros for 2004.

Mr Yaw Osafo-Maafo, Minister of Finance and Economic Planning signed for Ghana, while Mrs Agnes van Ardenne-van der Hoeven, Minister of Development Cooperation, initialed for the Dutch government. Mr Osafo-Maafo said the MDBS had made development partners' support to the country more predictable, saying that the country last year received all the pledges made by the donors.

He said the government would continue to put in place the structures to fight corruption, citing the Financial Administration Act and the Procurement Law as some of the positive signals to streamline expenditure and ensure accountability.

On the road project, the Minister said it would boost regional integration since it linked the country to Cote d'Ivoire as well as facilitate the transportation of cocoa and food stuffs from major producing areas in the Western Region.

Mrs der Hoeven praised the success of government's reforms, especially its ability to maintain macro economic stability and reinforcing the private sector.

She said the additional budget support would enable the government to deal with the unexpected rise in oil prices. The Minister expressed the hope that the Government would continue to involve the poor and the private sector in efforts at poverty reduction.

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