The Minister for Foreign Affairs and Regional Integration, Shirley Ayorkor Botchwey has disclosed that government has utilized 1 billion US dollars out of the 3 billion dollar China Development Bank (CDB) Loan to successfully complete the Western Corridor Gas Infrastructure Project and the Integrated National Security Communications Enhancement Project.
Madam Ayorkor Botchwey made this known when she interacted with her Chinese counterpart, Wang Yi on the side lines of the Forum on China – Africa Cooperation (FOCAC) Coordinators meeting which took place recently in China.
She further indicated that Ghana intends to use 1 billion of the facility for two major railway projects adding that Ghana’s Minister for Finance will be working out the details with his Chinese counterpart as well as seek his support for the two projects which are critical to the opening up of the untapped areas of Ghana’s economy.
The Foreign Affairs Minister revealed
that “the Government of Ghana has established the Ghana Integrated Aluminum
Development Corporation to develop our Aluminum Industry which is earnestly
seeking partners to build the aluminum refinery, the proceeds of which will go
towards servicing the facility.”
She recounted that Ghana and China have signed two subsidiary agreements to
construct about 11 fishing harbours and landing sites as well as the Accra
Metropolitan Area Intelligence Traffic Management Projects.
Furthermore, she spoke about how debt
sustainability was one of the key economic policy objectives being pursued
under the Ghana Beyond Aid Agenda of the Government of Ghana, noting that the
West African nation was continuously working to reduce its debts to Gross
Domestic Product ratio.
Meanwhile, both Foreign Ministers stressed the importance of strengthening
Ghana and China’s bilateral relationship which dates back to July 5, 1960.
Madam Ayorkor Botchwey highlighted the warm path Sino-Ghana relations have taken under the able leaderships of Presidents Akufo-Addo and Xi Jinping.
Story By: Henry George Martinson/radiogoldlive.com
