REMARKS BY MINISTER OF FINANCE AND ECONOMIC PLANNING, HON. (DR.), KWABENA DUFFUOR ON THE OCCASION OF THE SIGNING OF ADDENDUM TO THE 10TH EUROPEAN DEVELOPMENT FUND (EDF) COUNTRY STRATEGY PAPER AND NATIONAL INDICATIVE PROGRAMME (CSP/NIP) FOR 2008-2013

Your Excellency, Mr. Filiberto Ceriani Sebregondi, Ambassador and Head of the European Commission Delegation in Ghana;
Colleague Minister (s);
Members of Staff of the European Commission Delegation 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,

Let me begin by welcoming Your Excellency and the staff of the European Commission (EC) in Ghana to this short signing ceremony of the Addendum to the 10th European Development Fund (EDF) Country Strategy Paper and National Indicative Programme (CSP/NIP) for Ghana covering the period 2008-2013 within the framework of the cooperation between Ghana and the European Union (EU).

2. I am indeed delighted to be part of this memorable occasion as this signing ceremony is the first of its kind with the diplomatic community since my assumption of office as the Minister of Finance and Economic Planning.

Ladies and Gentlemen
3. In December 2007, the Government of Ghana (GoG) and the EC signed the 10th European Development Fund Country Strategy Paper and National Indicative Programme under which the EC made available a total initial indicative allocation of €373.6 million for a five-year period spanning 2008 - 2013 to succeed the 9th European Development Fund Country Strategy Paper and National Indicative Programme, which commenced in January 2002 and came to an end in December 2007. 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 over the period.

4. The concept of the 10th European Development Fund Country Strategy Paper and National Indicative Programme therefore establishes the General Framework for implementation of EU assisted programmes and projects in the country and takes into account the EU's development policy as well as the Government's policy direction and its development agenda.

5. Out of the total budget of €373 million provided under the 10th Programme, 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 three (3) thematic areas of concentration to which the programmable aid (Envelope A) resources will be channeled are as follows:

Transport Connectivity and Regional Integration (€76 million);

Governance and Decentralization (€95 million) and

General Budget Support (€175 million).

6. These interventions are complemented by other non-focal area programmes such as Trade, migration, the environment etc for which an amount of €21 million has been earmarked).

Distinguished Ladies and Gentlemen
7. The formulation of an addendum to the 10th European Development Fund Country Strategy Paper and National Indicative Programme to be signed today is in the light of the EC's assessment of government's special needs as a result of the macro-economic and social effects of the escalating international food prices. The addendum therefore seeks to provide additional financial resources in the sum of €6.02 million to Ghana for unforeseen needs, to be added to the ongoing General Budget Support from the EC. This therefore will bring the total indicative allocation for Envelope B to €12.62 million. The funds will be used to support Government's priority programmes and policy interventions aimed at mitigating the negative effects on Ghana's economy as a result of the soaring global food prices.

8. Consequently, as has been hinted by Your Excellency, the EC Headquarters in Brussels is considering an emergency financial top-up of €20.0 million to Ghana as a response to the global financial crisis. We appreciate this kind gesture and trust that Your Excellency will use your good offices to facilitate the early release of the funds to enable government promptly address pertinent issues emanating from the shocks of the financial crisis.

Distinguished Ladies and Gentlemen,
9. At this juncture, let me express on behalf of the Government and People of Ghana our sincere appreciation 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 of providing better living conditions for the people by addressing poverty and creating wealth.

10. Last but not least, since this occasion possibly appears to be the last official signing ceremony to be held with Your Excellency, may I seize the opportunity to say a big thank you for your tenacity of purpose and the spirit of cordiality that you exhibited during the four (4) years of your duty tour in Ghana. It is regrettable that we could not work closely together before Your Excellency's departure from Ghana. However, my information is that you in your own capacity provided an invaluable support to Government's development agenda which was translated into the highest record level of disbursement ever, of around €80 million in 2008 in the areas of Macro-economic support, Rural Development and the transport sectors. May I, on behalf of Government and the people of Ghana, wish you well in all your future endeavours.

11. I thank you for your attention.