Ghana signs $42.62 million grant agreement with China

Ghana signs $42.62 million grant agreement with China

The governments of Ghana and China have signed a $42.62 million grant agreement for the implementation of economic and technical projects to be agreed on by both parties.

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Finance Minister, Ken Ofori-Atta signed the deal on behalf of Ghana and Chinese Ambassador, Mr Shi Ting Waang did same on behalf of his country.

Mr Ofori-Atta acknowledged the support of the Chinese government to Ghana over the years.

Ghana signs $42.62 million grant agreement with China
Ken Ofori-Atta and Chinese Ambassador Mr Shi Ting Waang. Source: GNA
Source: UGC

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He opined that the GoG in the last three years has created an enabling and conducive environment for the growth of the private sector in the country.

We have introduced tax reforms, inflation is on the decline, interest rates are on the decline, and the exchange rate has also been relatively stable,” Mr Ofori-Atta said.

The Minister said the government’s fiscal consolidation efforts over the period have also yielded positive results with fiscal deficit declining from 6.5 percent of GDP in 2016 to 4.5 percent currently.

We are hopeful that sustained improvements in the management of the economy will surely galvanise all the elements necessary for sustaining rapid economic growth and development of the country.

"Our primary focus now is on consolidating these gains achieved so far by improving macroeconomic stability and building an inclusive society through a wide range of broad-based government flagship programmes,” Mr Ofori-Atta opined.

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On his part, the Chinese Ambassador said his government will continue to provide financial support or aid to Ghana to help it achieve its 'Ghana Beyond Aid' goal.

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He also pledged to work closely with government to bring to better the lives of Ghanaians. earlier reported that President Nana Akufo-Addo has been named among the 100 Most Influential Africans in 2019.

This was revealed in the December 2019 edition of the New African Magazine. Akufo-Addo featured on the list for his role and contribution in areas like education on the continent.

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