GHANA AND CHINA SIGN AGREEMENT
The governments of Ghana and China have signed an Economic and Technical cooperation agreement of 20 million Chinese Yuen grant and 10 million Chinese Yuen interest-free loan to Ghana respectively the equivalent of 4.5 million US dollars as well as a grant fro US$500,000 for the furnishing of the new Ministry of Defence building built by the Chinese.
Hon. (Dr.) Kwabena Duffuor, Minister of Finance signed of behalf of the government while the Chinese Ambassador to Ghana, H. E. Yu Wenzhe, signed on behalf of the Peoples Republic of China. Present was the Hon. Minister of Defence, Lt. Gen. J.H. Smith (Rtd).
Dr. Duffuor in his remarks noted that Chinese Government’s development assistance to Ghana has increased tremendously in the past few years, a reflection of the deepening bilateral cooperation between the two countries; based on mutual respect, and the increasing economic and political influence of China in Global affairs.
He said development assistance comprise of concessional loans, buyers’ credit, interest-free loans, grants and technical assistance; notable among the projects funded by China is the Bui Power project and the 100-bed Hospital and a Malaria Research Centre at Teshie.
Hon. Duffuor urged the two countries to explore other areas of further cooperation such as road and railway infrastructure, manufacturing, oil and gas exploration and development.
He appealed to the China to approve Ghana’s pending application for concessional loan for the Kpong water supply expansion project and the second phase of the Dedicated Communication System of Security Agencies Project.
H. E. (Mr.) Yu Wenzhe, Ambassador on his part noted that the Chinese government is ready to work with the government of Ghana to bring a concrete benefit to both countries.
The signing was witnessed by the Minister of Defence, Rtd Gen. J.H. Smith, Nana Juaben-Boaten Siriboe, Chief Director of the Finance Ministry, Mr. Hu Yujie the Economic Counsellor at the Chinese Embassy as well as staff of the Ministry of Finance and the Chinese Embassy.
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