Ghana to introduce new policy to guide development cooperation

Finance Minister Ken Ofori-Atta
Finance Minister Ken Ofori-Atta

Ghana is in the process of writing a new development cooperation policy to guide the country’s use of its cooperation with development partners, Minister for Finance Kenneth Ofori-Atta said here on Friday.

The minister said this in his speech during a brief signing ceremony for a 24 million U.S. dollar credit facility from the Kuwait Fund for Arab Economic Development to support a road construction project in Ghana’s capital.

He said the need for this policy stemmed from Ghana’s vision to become fully self-reliant shortly, to develop beyond aid, through a rapid and inclusive sustainable growth to become an established middle-income country.

“With this in mind, we are at the final stages of preparing the Ghana Development Cooperation Policy (GDCP), which aims at improving the effective use of development cooperation, and support the implementation of Ghana’s medium-term development plan,” the minister said.

Ofori-Atta added that the policy document would streamline Ghana’s relationship with its development partners, foster mutual economic benefits, and strengthen political cooperation.

“We need to align all of that to our industrialization drive for Ghana to become the regional hub. It is about how Ghana is going to become the key trade facilitation and investment center in Africa. We are currently developing it and would launch it by next year,” he said. Enditem

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