Nana Seals $2 Billion Chinese Deal

President Akufo-Addo's maiden state visit to China has brought dividends, as the country is set to benefit from a whopping $2 billion to be used for infrastructural projects across the country.

The Sino-Sure Framework Agreement signed by the two countries would enable Sino-Hydro Cooperation, a subsidiary of Power China, to finance and actively participate in the construction of major roads and railways in the country.

The two countries signed eight Cooperative Agreements and Memorandum of Understanding (MoUs) on Saturday at the Great Hall of the People in Beijing in China to boost development.

The agreements include the One Belt One Road Memorandum of Understanding (MoU), Memorandum on Regional Aviation Co-operation, Agreement for Cooperation in the Peaceful use of Nuclear Energy and Cooperation to carry out Maternal and Child Health Project.

The rest are Framework Agreement on Financing Insurance Cooperation, Economic Cooperation on Phase 2 Project of the University of Health and Allied Sciences in Ho, Agreement for cooperation on the expansion of the Cape Coast Stadium and Agreement for cooperation on the supply of vehicles to the Ghana Police Service.

The Finance Minister, Ken Ofori-Atta and the Foreign Minister, Shirley Ayokor Botchwey, who were part of the president's delegation to China, signed the agreements on behalf of the country during a colourful and historic ceremony, which was witnessed by President Xi Jinping of China and President Akufo-Addo.

The two leaders were beaming with broad smiles during the event.

Throwing more light on the agreements, President Xi Jinping said China would provide a grant of 200 million Chinese Yuan, equivalent of US$30 million to help Ghana to support and ensure the successful implementation of President Akufo-Addo's economic policies.

In the area of defence cooperation, Ghana is also to benefit from a grant of 50 million Chinese Yuan, equivalent to US$7.3 million which would eventually lead to the construction of a magnificent headquarters of the Ghana Armed Forces.

The Chinese leader also reiterated the commitment of his country to finance the construction of the Jamestown Fishing Port Complex to improve the living standards of the people in the coastal areas of Ghana.

Work on the Phase two of the expansion project of the University of Health and Allied Sciences in Ho in the Volta Region would take place to enable the university to properly accommodate many students, he added.

With the support of the Chinese government, he said, the construction of a new Cocoa Processing facility would soon get underway in Ghana which is in line with President Akufo-Addo's vision of adding value to Ghana's raw materials before they are exported to the international market.

In the area of defence cooperation per the agreements signed, Ghana would be assisted by China to strengthen its capability to help improve maritime security in the Gulf of Guinea, train Ghanaian peacekeepers and strengthen the capacity of the Ghana Police Service.

President Jinping pointed out that there would also be the establishment of a legal assistance and extradition treaty between Ghana and China, and a deal has also been sealed between the two countries to ensure the expansion of the Cape Coast Stadium to help boost sporting activities.

The Chinese leader, who was cheerful, stated that “such cooperation would inure to the benefit of our two countries, adding that China would support President Akufo-Addo's 'Ghana Beyond Aid' vision.

President Jinping said his country is extremely delighted to work closely with a reliable partner like Ghana, noting that the construction of 1,000 boreholes across Ghana is underway to boost access to clean and safe drinking water.

The First Lady, Rebecca Akufo-Addo, Nana Asante Bediatuo, Secretary to President; Alan Kyerematen, Trade and Industry Minister; and Kwasi Amoako Atta, Roads and Highway Minister; among others, accompanied President Akufo-Addo to China.