The support will specifically go to the Agriculture Out-grower and Value Chain Fund; the Financial Sector Deposit Protection Scheme and the Renewable Energy as well as Energy Efficiency Program.
Signing to commit his country at a brief ceremony, German Ambassador to Ghana, Rüdiger John said the financial support has been the result of the excellent relations between Ghana and Germany.
“We will continue our cooperation on fruitful terms in the next years, and I am looking forward to seeing the results of our mutual efforts,” the German Ambassador stated.
Ghanaian president, John Dramani Mahama has had two state visits to Germany this year holding discussions with the German Chancellor, Angela Merkel, while other officials on both sides held bilateral talks on Ghana-German relations into the future.
“With the visits to Germany and meetings of President Mahama with Chancellor Merkel and visits of the German Ministers Dr. Müller and Mr Groher in April this year to Ghana, the political bonds between our two countries have gotten much tighter over the last 18 years,” John observed.
Minister for Finance Seth Terkper noted that with the transition from a lower income country to a lower Middle Income Country (MIC) Ghana has been facing harder terms of borrowing.
“Instead of concessional facilities we used to access from the World Bank and other multinational development institutions for 40 years and over, now we have commercial loans,” Terkper noted.
He was however grateful to German Institution, Kreditanstalt Für Wiederaufbau (KFW) which he said is one of the most generous institutions working with the country during the transition.
The minister was glad that the discussions for the current support were initiated from the German side, and the schemes that were identified were also very well thought out. Enditem
Source: Xinhua
