Ghana and EU sign €175 million financing agreements

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Ghana has signed onto four new financing agreements worth €175 million with the European Union (EU).

The agreements are set to form the basis of EU support to Ghana’s Public Financial Management (PFM) programme, the agricultural sector (especially in northern Ghana), decentralisation and climate change over the next seven years.
Per the terms of the agreements, €53 million of the €175 million would be directly managed by the Government of Ghana within its public financial system while the remaining €122 million will be managed by two development agencies of EU member states.
The assistance comes under the European Union’s Joint Co-operation Strategy, titled ‘European Partners Working Together in Ghana’.
According to the EU Ambassador to Ghana, Mr William Hanna, the purpose of the strategy is to, among others, improve donor co-ordination, reinforce policy dialogue with government agencies, reduce transaction costs for government, and deepen synergies that will lead to enhanced development effectiveness.
€102 million into agric dev in Northern Savannah Zone 
The funds will provide access to productive infrastructure to increase household incomes and improve trade of produce in the Upper West Region of the country.

By Isaac AIDOO, Accra

ABOUT: Nana Kwesi Coomson

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An Entrepreneur and Philanthropist. Editor-in-Chief of A Senior Journalist with 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. He is a 2018 Mandela Washington Fellow (YALI) who studied at Clark Atlanta University on the Business and Entrepreneurship track. His mentors are Rupert Murdoch, Warren Buffet, Sam Jonah, Kwaku Sakyi Addo and Piers Morgan

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