Business News of Wednesday, 4 February 2015
In pursuit of its international development cooperation aims, the German government committed a total of €157.7 million to support development activities in Ghana.
The amount was given in two years; 2012 to 2014, according to a press release from the German Embassy issued in Accra Tuesday February 3, 2015.
“The commitments for 2012-2014 were €157.7 million. The funds come from German tax payers,” the release added.
It also noted that: “Since 1961, Germany has contributed €1.37 billion to assist social and economic development in Ghana, in addition to debt relief.”
The release indicated that the support for Ghana is in the areas of:
1. Economic Development: Support for small and medium-sized enterprises.
2. Decentralisation: Improving delivery of basic services for the entire population, contributing to transparency and strengthening political participation at the district and local level.
Germany says it also supports agriculture through the improvement of the income of rural populations by a value-chain approach mainly with regard to food crops.
The country also gives budget support and good financial governance by providing additional budget resources in order to support the Ghana Shared Growth and Development Agenda (GSGDA).
The statement also announced a two-day consultation programme between the German and Ghanaian government representatives. The meetings are taking place in Accra at the Ministry of Finance February 3 and 4, 2015 and would discuss the focal areas and adequate instruments for bilateral cooperation for the next three years; 2015 – 2017.