A funding agreement worth US$30 million has been inked by Ghana and China to help build a university in Damongo.
Dr. Cassiel Ato Forson, the Minister of Finance, and H.E. Tong Defa, the departing Chinese Ambassador to Ghana, met and signed the agreement.
On behalf of President John Dramani Mahama and the Ghanaian people, Dr. Forson thanked the Ambassador and acknowledged his contribution to improving bilateral ties between the two nations.
The Minister pointed out that despite Ambassador Tong’s short stay, two important grant agreements for Ghana were completed during that time: the US$30 million grant for the building of the institution in Damongo and support for a multipurpose market in Aflao.
He also emphasised the wider impact of Chinese investment and support on Ghana’s economy, reiterating how much Ghana cherishes its long-standing ties to China, which go back to the time of Chairman Mao and President Kwame Nkrumah.
Dr. Forson emphasised the necessity of lowering currency losses related to bilateral commerce in order to strengthen economic cooperation.
He stated that Ghana is interested in investigating trade settlements in the Ghanaian cedi and the RMB, pointing out that direct trading between Ghana and China is more effective than relying on third-party currencies.
He gave the departing ambassador his word that these talks would be carried out at the policy level, including interaction with the Bank of Ghana.
Ambassador Tong commended Dr. Forson on Ghana’s improving economic performance and thanked the Finance Minister for his collaboration and support during his tour of duty.
He expressed his satisfaction with the current status of Ghana-China ties and expressed his encouragement at the concrete results attained in a short amount of time, especially in the field of development cooperation.
Source: newsthemegh.com