Ghana to Benefit from US$60 Billion Chinese Fund for Africa… Signs New Agreement with China

Ghana and China have signed a new agreement under the Joint Commission on Economic, Trade and Technical Cooperation to enable Ghana benefit from a US$60 billion Chinese support for Africa.
Per the agreement, Ghana will receive financial support for the development of sectors including power, transport, telecommunications, education and municipal construction.

It will also pave way for Chinese enterprises to invest deeply in government’s industrialization process including the implementation of the “One District One Factory policy”.

The Joint Commission on Economic, Trade and Technical Cooperation is a medium term Development Assistance Agreement, expected to be signed every four years between the two countries to ensure economic cooperation.
The two countries, represented by Ghana’s Finance Minister, Ken Ofori Atta and the Vice Minister of Commerce of the Republic of China, Mr. Qian Keming signed the Minutes of the Fourth Session of the Joint Commission in Accra, for their respective countries, after discussing the modalities.
The discussions was mainly centered on bilateral trade, investment, financing, and development assistance cooperation with regards to grants and concessional loan financing, regional aviation cooperation, and human resource training.

Ofori Atta expressed satisfaction after signing the agreement saying that, “infrastructure and industrialization are very critical to us and they are sectors we can collaborate in very well. And therefore we are looking at a new paradigm where we can encourage private sector Chinese companies to come in here and collaborate.”
Qiang also reiterated his government’s commitment to supporting African economies, particularly Ghana.
Ghanaian delegations have been invited to China to participate in an international Import Exposition in 2018.
The delegations will also partake in other trade promotion activities, to advertise Ghanaian products such as Cocoa, Cashew, Starch, and Shea-butter on the Chinese market to encourage further imports from Ghana by Chinese enterprises.





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