REMARKS BY HON. MINISTER OF FINANCE AND ECONOMIC PLANNING
ON THE OCCASION OF THE SIGNING OF ADDENDUM TO THE 9TH EUROPEAN DEVELOPMENT FUND (EDF) COUNTRY STRATEGY PAPER AND NATIONAL INDICATIVE PROGRAMME (CSP/NIP) FOR
2002-2007 AND TWO (2) FINANCING AGREEMENTS
Your Excellency, Filiberto Ceriani Sebregondi, Ambassador and Head of the European Commission Delegation in Ghana.
Colleague Minister (s)
Members of the European Commission in Ghana
Chief Director and Directors of the Ministry of Finance and Economic Planning
Representatives of beneficiary Ministries, Departments and Agencies
Members of the Press/Media
Distinguished Ladies and Gentlemen,
Introduction
1. Let me begin by congratulating Your Excellency, the staff of the European Commission (EC) and other EU nationals in Ghana in advance, on the occasion of the celebration of the European Day which falls tomorrow Wednesday 9th May, 2007. I wish to extend the well wishes and felicitations of the Government and people of Ghana to you and all EU Nationals in Ghana. I am indeed hopeful that the celebration will be a memorable one.
2. Barely one year ago, around this same period, four (4) Financing Agreements in the sum of €88.49 million (approximately ¢973.4 billion) for the implementation of two (2) roads, one (1) water and one (1) cultural initiative projects were signed.
3. We have again assembled here today to witness the signing of a second Addendum to the 9th European Development Fund (EDF) Country Strategy Paper/National Indicative Programme (CSP/NIP) for the period 2002-2007, as well as two (2) Financing Agreements.
Ladies and Gentlemen,
Addendum to 9th EDF CSP/NIP
4. The 9th EDF CSP/NIP, which provides a country diagnosis of problems and outlines the response strategy, was signed in 2002. The initial indicative allocation was €231 million (approximately ¢2.9 trillion). However, following a mid-term review (MTR), the first addendum to the 9th programme which sought to re-allocate EDF resources was signed in 2005.
5. The good economic performance of the country and the associated needs for additional resources after the end-of-term review (ETR) of the 9th programme resulted in the decision by the EC to re-allocate EDF resources to Ghana. With this re-allocation, the EC has committed an additional amount of €29 million (apprximately ¢365 billion) under envelope A (meant for development aid); thus bringing the total indicative allocation to Ghana under the 9th EDF programme to €315.4 million (approximately ¢3.97 trillion).
6. The ETR and subsequent re-allocation of 9th EDF budget have resulted in the formulation of a second addendum which is to be signed today. These additional resources of €29 million (approximately ¢365 billion) will be used to support the Eastern Corridor Road project (€22.8 million, approximately ¢287 billion), second Technical Cooperation Facility (TCF II - €2.0 million, approximately ¢26 billion), and to top up the third Poverty Reduction Budget Support (PRBS III - €2.0 million, approximately ¢26 billion) under the Multi-Donor Budget Support Framework. The remaining €2 million (approximately ¢26 billion) has been re-programmed for other ongoing projects and programmes.
Distinguished ladies and Gentlemen,
Financing Agreements to be signed
7. As I mentioned earlier on, two (2) Financing Agreements are to be signed today. These are in respect of the following projects/programmes:
• Private Sector and Trade Enabling Programme (PSTEP) which intends to provide Sector Budget Support (SBS) of €5.0 million (¢62.9 billion) to be disbursed over the period 2007-2009 to support the implementation of the Private Sector Development Strategy (PSDS) signed in October, 2002.
• Guinea Worm Eradication Project is being jointly financed by the EU and the United Nations Children’s Fund (UNICEF). The total estimated cost of the project is €20 million (approximately ¢251.5 billion) with an EU grant contribution of €15 million (approximately ¢188.6 billion) while UNICEF is providing an amount of € 5 million (approximately ¢ 62.9 billion).The project is intended to eradicate Guinea Worm through the provision of water supply and sanitation facilities, as well as hygiene promotion, in 9 districts in the Northern Region. The 9 beneficiary districts are Central Gonja, East Gonja, Gushiegu, Karaga, Nanumba North, Savelugu/Nanton, Tolon/Kumbungu, Yendi and Zabzugu/Tatale.
Ladies and Gentlemen,
Signed Financing Agreements
8. I am happy to also announce that two (2) other Financing Agreements covering a total amount of € 6.99 million (approximately ¢ 88.9 billion) were signed between the Government of Ghana (GoG) and the EU during the first quarter of this year. These are:
• The 2nd Technical Cooperation Facility covering an amount of €1.99 million, approximately ¢25.8 billion is a flexible facility that aims at facilitating and supporting the implementation of EU funded projects and programmes by providing funds for various activities, including auditing, evaluation, studies, training and conferences.
• The Transport Sector Planning and Integration Programme in an amount of €5.0 million, approximately ¢ 62.9 billion):- aims at providing a sound planning framework for the transport sector, informing the sector’s service and investment priorities, meeting the needs stemming from economic development, regional integration and social cohesion.
Conclusion
Distinguished Ladies and Gentlemen,
9. We are very grateful to the EU for the support they have continued to provide the country. These areas of support are very vital as they are in line with the Government’s Development Agenda for addressing poverty reduction and creating wealth as enshrined in the Growth and Poverty Reduction Strategy (GPRS).
10. I thank you for your attention.
