GHANA AND the European Union (EU) have entered into a new financial agreement which will make available €203 million to support green growth for jobs, smart and sustainable cities and good governance, and security in the country.
The €203 million joint programme is for the period 2021-2024, with the allocation for 2024-2027 to be determined following a review by the EU.
It is to support Ghana’s economic transformation agenda, boost strategic sustainable investments, decent job creation and private sector development.
The Multi Annual Indicative Programme agreement falls under the EU’s new Global Europe financing instrument developed with team Europe partners; the Czech Republic, Denmark, France, Germany, Hungary, the Netherlands, Spain, Switzerland, and the European Investment Bank.
The document has been prepared in close consultation with Ghanaian authorities, civil society organisations, including women and youth organisations, local authorities, private sector representatives, the UN and other partners.
Speaking to the media after the signing arrangement, European Commissioner for International Partnerships, Jutta Urpilainen, said these priorities were jointly determined with Team Europe partners, and in close consultation with Ghanaian authorities, civil society and other relevant stakeholders.
“This is a strategic partner for the EU in West Africa, as an economic powerhouse and an anchor of stability in the region.
“The EU sees concrete opportunities to deepen our partnership by working together on Ghana’s green and digital transition, security situation, and at multilateral level by promoting our common values,” she stated.
Finance Minister, Ken Ofori-Atta, assured of the judicious use of the resources for the sustained growth of Ghana’s economy.
“We have had some hard times with the economy, owing to COVID-19 and recently the Russia-Ukraine war. It is gratifying to note, therefore, that our fiscal measures remain firm enough for a rebound – that for the EU to express such an ambitious investment is encouraging,” he stated.