PRESS RELEASE

GOVERNMENT OF GHANA AND THE EUROPEAN COMMISSION SIGNED €6.02 MILLION ADDENDUM TO THE 10TH EUROPEAN DEVELOPMENT FUND (EDF) COUNTRY STRATEGY PAPER AND NATIONAL INDICATIVE PROGRAMME (CSP/NIP) FOR 2008 - 2013

The Government of Ghana and the European Commission today Thursday, 26th February 2009 signed an Addendum to the 10th European Development Fund Country Strategy Paper and National Indicative Programme for Ghana in the sum of €6.02 million in Accra.

The Hon. Minister of Finance and Economic Planning, Dr. Kwabena Duffuor signed on behalf of the Government of Ghana whilst H. E. Mr. Filiberto Ceriani Sebregondi, Ambassador and Head of Delegation of the European Commission in Ghana initialed for the European Commission.

The European Development Fund Country Strategy Paper and National Indicative Programme provide a country diagnosis of problems and outline the response strategy and related interventions to be implemented between 2008 and 2013. The document was signed between the Government of Ghana and the European Commission in December 2007 to succeed the 9th European Development Fund Country Strategy Paper/National Indicative Programme spanning 2002-2007. The concept of the Country Strategy Paper/National Indicative Programme provides the General Framework for the implementation of European Union assisted programmes in the country and takes into account the European Union's Development Policy and Government's development agenda.

The 10th European Development Fund provides a total budget of €373 million, out of which an amount of €367.0 million has been earmarked for Envelope A (i.e. programmable aid) and €6.6 million for Envelope B (which is meant for unforeseen events). The programmable aid (Envelope A) resources will be used to finance the implementation of various interventions in the following three (3) thematic areas:

Transport Connectivity and Regional Integration (€76 million);

Governance and Decentralization (€95 million) and

General Budget Support (€175 million)

6. The remaining €21 million was also earmarked for the complementary non-focal area programmes such as Trade, migration, the environment etc.

With the signing of the Addendum, the European Commission will provide additional financial resources in the sum of €6.02 million to Ghana as a supplement to the initial indicative allocation of €367 million under the 10th European Development Fund, to help Government address some of the pressing issues emanating from the effects of the escalating international food prices. This thus brings the total indicative allocation to Ghana to €379.02 million.

Issued by:
Ministry of Finance and Economic Planning Accra on 26th February 2009.