In an effort to promote sustainable development and economic progress, Minister for Finance Ken Ofori-Atta has signed two financial agreements worth 42 million Euros on behalf of the Government of Ghana with the European Union (EU).
The main objective of these financing agreements is to accelerate Ghana's digital and green transition, boost the private sector, especially the agribusiness sector, and strengthen the country's public financial management systems.
The first agreement, the €27 million EU action for Sound Public Financial Management and Private Sector Development program, aims to improve transparency and accountability in the management of public resources. It also focuses on developing a greener, more digitalized, and inclusive private sector in Ghana.
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The second agreement is for a €15 million EU-Ghana Partnership for Green Transition and Agribusiness Program. This program will focus on sustainable, climate-resilient agricultural production.
Minister Ken Ofori Atta recognized the timely significance of these agreements and assured that confidence in Ghana's economic prospects is returning. He mentioned that Ghana's fiscal situation has improved, reviews with the IMF under their program are being successfully completed, and the country is making steady progress towards macro-stability and debt sustainability.
The agribusiness component of the agreements will support the sustainable development of value chains such as soya, shea, vegetables, beekeeping, and cocoa production. Additionally, actions will be taken to prevent deforestation.
Minister Ofori Atta acknowledged the EU as a reliable partner in Ghana's quest for sustainable development. He mentioned that the 86.5 million euros in emergency budget support provided by the EU in 2020 during the COVID-19 pandemic was timely.
Mr. Irchad Razaaly, EU Ambassador to Ghana and Head of the Delegation to Ghana, who signed the agreement on behalf of the EU, emphasizes that the agreement represents an exhaustive approach to sustainable development. It will not only impact Ghana but also serve as a catalyst for the implementation of the EU's Global Gateway strategy, which promotes smart, clean, and digital investment cooperation with partner countries.
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Highlighting the agribusiness element, Mr. Razaaly stated that it will foster economic growth, promote livelihoods, and enhance food security. He assured Ghana of the EU's support for the Planting for Food and Jobs Program, which aims to boost the agricultural sector, provide more opportunities for youth, and increase food production for both local consumption and exports.
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SOURCE:
-3NEWS.COM- "Govt Signs Two Financial Agreements Worth $42m With EU"
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