Germany commits 122.7m Euro to Ghana

By on

Capture2-465x330The Deputy Minister of Finance, Cassiel Ato Forson and German Ambassador to Ghana, Rüdiger John on Thursday signed the financial cooperation agreement, a news release by the Embassy of the Federal Republic of Germany in Accra has said.

The agreement was based on the intergovernmental negotiations on bilateral development cooperation between the Republic of Ghana and the Federal Republic of Germany, held in Accra in 2012.

According to the release, a total of 110.7 million Euro or GHc 612.5 million were committed as concessional loans and 12 million Euro as grants.

Out of the amount, 30 million Euro are committed to Multi-Donor Budget Support, 16.5 million Euro for Performance-oriented Public Finance Management Support Programme and 3.5 million Euro committed to Deposit Protection System.

Furthermore, 21 million Euro, are earmarked for District Development Facility, 20 million Euro for the Renewable Energy Programme Pilot Photovoltaic System, while19.7 million Euro is earmarked for the WAPP Transmission Line (section Ghana)

The release indicated that the 12 million Euro in grants were committed to support Public Finance Management (1.5 million Euro), Deposit Protection System (0.5 million Euro) and Vocational Training (10 million Euro).

It said both sides highlighted the fruitful cooperation that existed between the two countries, and quoted Ambassador John as saying: “During difficult times, it is especially important to have honest friends, who will assist the country in finding its way out of financial turmoil. Germany will also in the future remain a reliable and strong partner”.

 

-GNA

ABOUT: Nana Kwesi Coomson

[email protected]

A Freelance Journalist, Entrepreneur and Philanthropist. Editor-in-Chief of www.233times.com. A contributory writer for Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. He holds first degree in Bachelor of Arts from the University of Ghana; Political Science (major) and History (minor). He has also pursued MSc Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) at the Robert Gordon University in the United Kingdom. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

view all posts by: Nana Kwesi Coomson  

Leave a Reply

Your email address will not be published. Required fields are marked *

ABOUT 233TIMES

233times.com is a Ghanaian media house which serves as a major source of exclusive interviews ,music and video downloads, news and more.

233times.com reports on major events,news covering entertainment, politics, sports, etc from within Ghana, Africa and beyond.

We have a platform for the amateur artistes to portray their staggering talents ...more...

WE ON SOCIAL MEDIA. FOLLOW US

facebook twitter youtube google plus linkedIn

To advertise with us or make enquiries, please visit 233times.com/advertise or call +233249455142 (Selorm), +233248185848 (Nana Kwesi)