Ghana gets GH¢275m financial pledge from Germany

Ghana has received a commitment of 130 million euros from the German government for the financial period from 2009 to 2011 following governmental negotiations between the Republic of Ghana and the Federal Republic of Germany on December 17 and 18  2009 in Bonn (Germany), a press statement from the German Embassy in Ghana copied to ghanabusinessnews.com has said.

According to the statement the German Ministry for Economic Cooperation and Development’s commitment which is approximately GH¢275 million represents an increase of more than 60% in German development support for Ghana.

“The German government is realising its aim of giving particular support to partner countries that succeed in practising good governance,” the statement said.

The new commitment, the statement added raises the total German development cooperation support to Ghana since independence to more than GH¢2,400 million (1,180 million Euro).

The Ghanaian-German bilateral development cooperation is based on Ghanaian strategies and implemented within the framework of the “Ghana – Joint Assistance Strategy”, signed by all principal development partners. In this context it was agreed to continue the German assistance in the existing focal areas of sustainable economic and financial development, agriculture and decentralization. Additionally, Germany scaled-up its commitment for direct budget support in the framework of the Multi Donor Budget Support (MDBS); new commitments were already made in September at 55 Million Euro (more than GH¢130 million) and reconfirmed at the negotiations, it said.

By Emmanuel K. Dogbevi