GERMANY SUPPORTS GHANA'S ECONOMY

9/17/07
Story: Musah Yahaya Jafaru
THE German government has committed GH¢42.4 million to Ghana to support the country’s economy, agriculture and decentralisation efforts for 2007 and 2008.
The commitment consists of GH¢31.2 million financial co-operation and GH¢11.2 million technical co-operation.
That raises the total German development co-operation to Ghana since independence in 1957 to more than GH¢840 million.
The recent commitment was the outcome of a two-day Intergovernmental Negotiations on Development Co-operation in Accra between Ghana and Germany from September 13 to 14, 2007.
The Ghanaian-German bilateral development co-operation is derived from the Ghana Growth and Poverty Strategy (GPRS II) and implemented within the framework of the Ghana-Joint Assistance Strategy signed by all principal development partners.
The Minister of Finance and Economic Planning, Mr Kwadwo Baah-Wiredu, signed the minutes of the two-day meeting on behalf of the government, while the Head of the German delegation and Head of Department of Central Africa, part of West Africa and Madagascar, Mr Niels Breyer, signed for his country, in Accra last Friday.
The Deputy Minister of Finance and Economic Planning, Prof. George Gyan-Baffour, said the facility would support the national budget and decentralisation efforts.
He said the amount would be channelled towards ensuring economic development, with the focus on agriculture.
For instance, Prof. Gyan-Baffour said, the government would extend credit facilities to farmers at the grass root level, promote the marketing of agriculture produce and rehabilitate roads in farming areas.
He said the assistance was also to promote good governance, and financial and legal areas of the economy.
Mr Breyer said the negotiations had further deepened the relations between Ghana and Germany, as the delegates “showed real partnership, and had intensive, frank and fruitful discussions”.
He said Ghana had achieved a remarkable feat in its development drive, and said “Germany is happy to be part of it”.
Mr Breyer said the German government looked forward to two years of stronger co-operation with Ghana, and reiterated the commitment of his government to continuous negotiations with Ghana.
A joint press statement by the Ministry of Finance and Economic Planning and the German Embassy in Ghana, said new commitments were made to secure an annual contribution to Ghana of up to GH¢8 million annually.