Ghana committed to develop beyond aid - Trade Minister
The Minister of Trade and Industry, Alan Kyerematen has underscored Ghana's commitment to develop beyond aid.
According to him, the “Ghana beyond aid” agenda being driven by President Akufo-Addo is to ensure the country utilises its vast natural resources to fund its development.
The Trade Minister made the comment during the second review meeting on the margins of the Belt and Road Forum for International Cooperation in Beijing China.
The meeting was a follow up to the first review meeting held in February this year with the Ghana Mission is an innovation by the Ghana Mission in Beijing to help fast track the implementation of projects been funded by Chinese institution s or companies.
This high-level meeting which was attended by senior government and public officials from both Ghana and China to review the progress of implementation of all major projects being implemented in Ghana by Ministries, Departments and Agencies (MDAs) with funding from the Chinese government and Chinese Private Financial Institutions, including Sinohydro Corporation, China EXIM Bank, China Development Bank and Sinosure.
These projects include the Construction of priority infrastructure projects, the Greater Kumasi Industrial City project, Kpone Water Supply Expansion project Phase II, Railway Project, Green Houses for Vegetable production, 22 One District One Factory (1D1F) projects, Ghana Digital Terrestrial Television project, DormaaAhenkro Water Supply project, Irrigation Water Transmission Pipeline in the Northern Ghana, among many other critical projects which were agreed upon when President Nana Akufo-Addo attended the FOCAC Conference in Beijing China last year.
This was after NPP government successfully negotiated a $2 billion barter financing agreement with the Chinese Government in 2018 for Ghana’s bauxite to finance priority infrastructure projects across the country. These projects are geared towards enhancing the economic activities of the country by leveraging the country’s resource endowments to improve livelihoods of Ghanaians.
Based on this backdrop, Alan Kyerematen during the meeting reminded the Chinese delegation that Ghana has carefully selected these projects to boost the country’s ability to generate enough revenue internally which has been inspired by the President’s vision of Ghana beyond aid.
He indicated that, Ghana has successfully exited the IMF Extended Credit Facility which grants the country opportunity to employ creative mechanisms for projects financing.
Ghana’s delegation included Hon. Joe Ghartey, Minister of Railways Development, Ambassador Edward Boateng, Ghana’s Ambassador to China, and other officials from Foreign Affairs, Trade and Industry, Railways and Finance Ministries. Hon. Joe Ghartey assured the Chinese investors that Government of Ghana is committed to developing the railway sector to help expand the economy and facilitate easy movement whiles His Excellency Edward Boateng stated that Ghana needed significant infrastructure development to enable us realise the President’s vision of a Ghana Beyond Aid and called on the Chinese companies to speed up the processes.
For his part, Mr. Jianjun Wang who is the Director-General of Foreign Capital & Oversea Investment of National Development and Reform Commission of China expressed confidence in Ghana’s ability to successfully implement these projects with their Chinese counterparts
He added that, efforts must be expedited on critical issues that are likely to impede the progress made so far.
Mr. Wang assured the Ghanaian delegation of the Chinese government’s readiness to fully ensure the successful implementation of these projects.