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16.12.2004 Business & Finance

Ghana, China sign 2.4 million-dollar grant agreement

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Accra, Dec. 16, GNA - Ghana and China on Thursday signed a 20 million-Yuan grant agreement (2.4 million dollars) for the implementation of priority projects to be mutually agreed on by the two governments.

The 2.4 million-dollar grant brings total Chinese government assistance to Ghana to about 135.6 million dollars, including interest free loans.

Dr Samuel Nii Ashong, Minister of State in Charge of Economic Planning and Mr Zhang Keyuan, China's Ambassador to Ghana, signed the agreement on behalf of their respective governments.

Dr Ashong praised the continuous assistance of the Chinese government to Ghana, saying that the money would be utilized to ensure that the noble aim of contributing to Ghana's development was achieved. He appealed to the Chinese Government to consider Ghana's request for additional relief by way of cancellation of outstanding debt to accelerate the implementation of the Ghana Poverty Reduction Strategy. China has already written off 53.1 million dollars owed it by Ghana.

Mr Zhang lauded the economic progress that had been made by the government and expressed the hope that the government would move faster to attain a more stable economy.

He said the peaceful conduct of the election had further made Ghana a shining example for others to emulate.

Mr Zhang expressed the hope that the two countries would learn from each other in the areas of good governance, democracy and the rule of law.

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