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Ghana enjoys 550 million Yuan debt write-off and grant from Chinese government

By
Godwill Arthur-Mensah,GNA

Accra, Nov.11, GNA – Ghana
has received 300 million Yuan grant and 250 million Yuan debt write-off from the
People’s Republic of China, as part of efforts to boost the nation’s
infrastructural development.

Additionally, the
rest of the US$649 million being the first tranche of the Sinohydro Bauxite
Barter Arrangement between the Chinese engineering and construction firm,
Sinohydro Group Limited and Ghana Government has been approved by Sinosure, a
Chinese credit and insurance firm, and expected in March, next year.

This came to light,
when Vice President Dr Mahamudu Bawumia held bilateral talks with visiting Chinese
Premier, Madam SUN Chunlan, at the Jubilee House, in Accra on Monday.

The governments of
Ghana and China entered into a two billion-dollar Bauxite Barter Arrangement,
when Vice President Bawumia led a government delegation to China in 2018.

The two billion-dollar
Master Project Support would aid Ghana’s infrastructural development, and
finance the construction of Tamale Interchange, Accra Inner City roads,
Kumasi-Mampong Inner City roads, Hohoe-Jasikan road and Sunyani Inner City
roads, as well as upgrading of some selected feeder roads across the country.

Vice President
Bawumia also lauded the Chinese government for funding the construction of
technical and vocational institutions in Ghana.

He expressed
Government’s commitment to learn from the Chinese government’s human skill
development model, in order to stimulate socio-economic growth in Ghana.

He lauded China for
celebrating its 70th anniversary recently and believed the high-level visit by
the Chinese Premier would move the relations between the two nations a notch
higher.

For her part, the
Chinese Vice Premier applauded the government of Ghana for the warm hospitality
accorded her and the Chinese Delegation upon their arrival in Accra on Sunday,
November 10.

She lauded President
Akufo-Addo-led government for implementing various development initiatives
under the “Ghana Beyond Aid” Agenda, including; the One-District, One
Factory and Planting for Food and Jobs that stimulated Ghana’s economic growth,
making her one of the fastest growing economies in Africa and the world

She noted that her
visit would afford the two nations to plan towards implementing the Consensus
reached at the Forum on China-Africa Cooperation (FOCAC) held in September
2018.

Some government
officials present at the meeting included; Chief of Staff, Madam Akosua Frema
Opare, the Finance Minister, Mr Ken Ofori-Atta, the Minister of Trade and
Industry Mr Alan Kwadwo Kyerematen and Professor George Gyan Baffour, the
Minister of Planning.

GNA

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