- Finance Minister, Seth Terkper has signed a 31.6 million Euro agreement with the European Union to provide social protection for employment.
- The employment programme also has macroeconomic significance, by being in line with the policy priorities of both the Ministries of Gender and Employment.
The Government of Ghana and the European Union (EU), on Monday signed a financial agreement of Euro 31.6 million for the new Ghana Employment and Social Protection (GESP) Programme in Accra.
The Programme would contribute to inclusive growth in Ghana by strengthening social protection and employment systems in the country.
The GESP Programme is a four year programme from 2016 to 2020, which would be implemented under four key components including enhanced effectiveness and efficiency of the social protection system and improved employment policy management at central and local levels.
It also aims at enhancing social protection services notably for vulnerable population groups and at generating decent employment opportunities, with particular attention to the youth.
Minister of Finance, Seth Terkper said the EU has an impressive record as far as support to Ghana’s development agenda is concerned, and its interventions in the various sectors were highly commendable.
He said the signing of the agreement with the EU was significant and timely because it is the first direct intervention in employment and social protection, saying other previous interventions have been in areas of road infrastructure and rural development.
Mr Terkper said the programme also has macroeconomic significance, by being in line with the policy priorities of both the Ministries of Gender and Social Protection and Employment and Labour Relations.
The programme would also help contribute to the 2016 budget targets through job creation initiatives in respect of both demand and supply sides, decent job opportunities, skills matching, social protection systems, addressing migration challenges and connecting the poor to the growth being generated by this intervention with a view to effectively reduce poverty.