GHANA AND CHINA SIGN LOAN AND GRANT AGREEMENT

The Government of Ghana and the People’s Republic of China have signed an agreement for US $ 4 million interest free loan and a grant of US$ 1.33 million to be used for the implementation of projects to be agreed on by the two parties in due course.

The Hon. Minster of State Dr. Anthony Akoto Osei and H.E Mr. Yu Wenzhe, the Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Ghana initialed the agreement respectively.

Hon. Dr. Akoto Osei, in his remarks stated that the extension of the facilities to Ghana show the level of confidence that the Chinese Government have in the GoG as this the third time in 18 months that a similar agreement have be signed.

He disclosed that the People’s Republic of China has become the largest bilateral development partner to Ghana.

He also took the opportunity to appeal to the Ministry of Commerce and the State Council (Cabinet) of the People’s Republic of China to expedite action on their internal procedures to enable the two countries sign the agreement in respect of the concessional portion of the loan for the Bui Hydro Project so that the construction time set for the Project could be met.

In his address, His Excellency, Mr. Yu Wenzhe, commended Ghana for her macro economic achievement saying with the current rate of development and good governance Ghana could reach the goal of middle income country status by 2015.

He pledged his country’s support to Ghana’s development efforts saying “China will help in the best of our ability to bring concrete results for the benefit of the people of the two countries”.
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