The governments of Ghana and China have formalised a US$30 million grant agreement to support the construction of a university in Damongo.
The signing of the agreement took place during a meeting between Dr. Cassiel Ato Forson, Minister for Finance, and H.E. Tong Defa, the outgoing Chinese Ambassador to Ghana.
On behalf of President John Dramani Mahama and the people of Ghana, the Finance Minister extended appreciation to the Ambassador for his role in ‘strengthening bilateral relations between the two countries’.
Although Ambassador Tong’s tenure was brief, Dr Forson noted that it culminated in the conclusion of two significant grant agreements for Ghana: funding for a multipurpose market in Aflao and the aforementioned US$30 million grant for the university’s construction.
He also indicated the substantial contribution of Chinese support and investment to Ghana’s economy, reiterating Ghana’s commitment to its longstanding relationship with China, which dates back to the era of President Kwame Nkrumah and Chairman Mao.
Dr Forson emphasised the need to enhance economic cooperation by ‘minimising exchange losses associated with bilateral trade’ and expressed Ghana’s interest in exploring trade settlements in the Ghanaian cedi and Chinese RMB, noting that reliance on third-party currencies is inefficient for direct trade between Ghana and China.
He told the outgoing Ambassador that “these discussions would be pursued at the policy level, including engagement with the Bank of Ghana”.
Ambassador Tong on his part expressed gratitude to the Finance Minister for the cooperation and support during his tour of duty and congratulated Dr. Forson on “Ghana’s improving economic performance”.
He was proud of the state of Ghana–China relations and noted his “encouragement by the tangible outcomes achieved within a short period, particularly in the area of development cooperation”.
By: Rainbowradioonline.com/Ghana
