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16.06.2005 General News

Ghana receives UK grant to support budget

By GNA

Accra, June 16, GNA - Ghana has received 12.5 million pounds (206 billion cedis) grant from the United Kingdom to support its 2005 budget. The grant formed part of the 2005 Multi Donor Budget Support (MDBS) that provides direct support to the government budget to implement the Ghana Poverty Reduction Strategy.

A statement from the British High Commission in Accra on Thursday said another 12.5 million pounds (206 billion cedis) would be disbursed when the Government satisfactorily completes the MDBS performance triggers.

In June 2003, the British government made available to Ghana up to 110 million pounds (1. 8 trillion cedis) as direct budget support over the next three years. This will bring to a total of 66.7 million pounds direct budget support provided by the British government to the government of Ghana under the MDBS framework.

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