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12.12.2005 Business & Finance

UK provides 67 billion cedis as grant aid to Ghana

By GNA
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Accra, Dec. 12, GNA - The British High Commission announced on Monday that Britain had released 67 billion cedis (4.25 million pounds sterling) in aid grant to Ghana. A statement issued in Accra said the grant was disbursed based on the Government's satisfactory progress against the three outstanding performance triggers for 2005.

"(The grant) is part of the performance tranche for the 10-donor 2005 Multi-Donor Budget Support (MDBS) programme that provides direct support to Ghana's budget to implement the Ghana Poverty Reduction Strategy," it said. The statement said in August 2005, the British Government made available to Ghana 132 billion cedis (8.25 million pounds) on the basis of Ghana's completion of nine out of 12 performance triggers for 2005.

It said Britain also contributed 1.8 trillion cedis in June 2003 as direct budget support for three years. This brings to 91.7 million pounds sterling the contributions the British Government had made to Ghana Government since June 2003 under the MDBS framework.

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