Ghana: Government Gets U.S.$ 42.62 Million Chinese Grant

13 December 2019

The Chinese government has offered Ghana a grant of $42.62 million for the implementation of economic and technical projects.

The presentation of the grant followed the visit of the First Premier of China, Madam Sun Chunlan to Ghana where she pledged to give Ghana a grant to finance some economic and technical projects.

Speaking at the signing ceremony in Accra yesterday, the Minister of Finance, Ken Ofori-Atta commended the Chinese government for its continuous support to Ghana.

"We would like to acknowledge the immense support the government of the People's Republic of China has provided Ghana over the decades especially in the areas of infrastructure, information communication technology, trade and investment, tourism and education including technical vocation education training," he said.

Mr Ofori-Atta said the grant, among others, would be used in the areas of technical and vocational education as well the Ministry of Foreign Affairs to enable the Ministry to prepare to host the African Continental Free Trade Area Secretariat.

The Minister of Finance said the government was working to create an enabling environment for the private sector to flourish.

He said the government had introduced tax reforms and both interest rates and inflation were on the decline.

Mr Ofori-Atta said the government's effort to make Ghana the most attractive destination for Foreign Direct Investment (FDI), in West Africa was yielding the needed results.

Ghana, he said, became the number one FDI destination in West Africa in 2018 per the UNCTAD report for 2018.

Mr Ofori-Atta said the modest success chalked by improving the Ghanaian economy and business-friendly environment, had ensured the continuous presence of a number of multinational corporations including automobile giants and global energy and tech giants like Huawei.

The Minister encouraged the Chinese government to take advantage of the ACfTA to deepen its economic relationship with Ghana and Africa.

The Chinese Ambassador to Ghana, Shiting Wang in his address said China would continue to support the development of Ghana.

He said China had supported several Synohydro and technical and educational projects and would soon donate 100 vehicles to Ghana.

Mr Wang explained China under the FOCAC, China would collaborate with Ghana to accelerate the development of the country.

"As the ambassador of China to Ghana, I will also do my best to work closely with the government of Ghana, to bring a better life to the people of Ghana, and to improve the friendship of China and Ghana. The prospects for cooperation between China and Ghana will surely be broadened," Mr Wang said.

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