Proparco, a subsidiary of French Development Agency dedicated to the financing of the private sector has pledged to support Ghana with a €50-million loan to address its energy deficits.
The fund will focus on renewable energy and energy efficiency projects to address the challenges confronting the energy sector.
Mr. Laurent Farge, Proparco Regional Director for West Africa, disclosed this to the media on Tuesday when he ended his five day-visit to Ghana.
The conference was to enlighten the media on its next line of investment in Ghana.
Currently, he said Proparco had invested about 27.2 million dollars in the Takoradi II power plant being undertaken by the Takoradi International Company.
Mr. Farge noted that Ghana was a major country for Proparco investment with about €190million of investment signed in various sectors.
He said his outfit had over the years provided financial support to private institutions as well as supporting them with expertise, technical assistance and access to network to boost their services.
Mrs. Amelie July, Resident Manager for the French Development Agency added that the core mandate of Proparco was to support private investment in developing countries.
The French Ambassador, Mr. Francois Pujolas thanked the government for the cordial relationship between the two countries and pledged his country’s support to improving Ghana’s economy.
By Bernard Benghan & Benedicta Folley