EU commits €203m to fund projects in Ghana

The European Union (EU) has committed EUR 203million to fund new economic development projects in Ghana for the period 2021 to 2024.

Targeting three priority areas; green growth for jobs, smart and sustainable cities and good governance and security, the financing falls under the Multi-annual Indicative Programme (MIP) adapted by the EU for Ghana from 2021 to 2027.

The European Commissioner for International Partnerships, Ms Jutta Urpilainen, and the Minister of Finance, Mr Ken Ofori-Atta, officially launched the programme in Accra yesterday.

In a remark, the Commissioner explained that the MIP was part of the “EU Global Gateway Strategy” which aims at boosting smart, clean and secured links in digitalisation, energy, transport, health, education and research systems across the world.

The objective is to promote sustainable and trusted connections that work for people and the planet to tackle pressing global challenges from climate change, environmental protection, health security and boosting competitiveness and global supply chains.

A total of €300 billion is expected to be mobilised by EU countries under the strategy to support a lasting global recovery, taking into account partners’ needs and the EU’s own interests.

The Commissioner, who is on a two-day official visit to Ghana to reinforce EU-Ghana partnership and advance common interests, earlier signed a 44.7million Euro grant with government to build and rehabilitate a total of 35 irrigation schemes in the five Northern regions.

She also inspected some start-up businesses funded by the EU and facilitated by Innohub, a business accelerator and investment platform supporting entrepreneurs in green and circular economy.

The Commissioner also visited the laboratories of the Food and Drugs Authority (FDA) where the EU, through a 2.8 million Euro facility,ws assisting the set up of a fill and finish facility under Ghana’s vaccine development and manufacturing roadmap.

Ms Urpilainen recognised Ghana as a strategic partner for the EU in West Africa and“an economic powerhouse and an anchor of stability in the region.”

“The EU Global Gateway strategy will serve as one of the frameworks for our partnership with Ghana, with the aim to boost smart, clean and secure connections and to provide the quality investment needed in Africa,” she added.

BY ABIGAIL ANNOH

The Minister of Finance, Ken Ofori-Atta, indicated that the ensuing years provided the African continent an avenue to plug in economic loopholes and rebound from the shocks occasioned by the COVID-19 pandemic.

“Increasingly, the 2020s is looking like the decade that will determine whether the entire continent simultaneously plugits infrastructure deficit, attainstructural transformation, and reach net-zero emissions by 2050.

Although we recognise the huge challenges that lie ahead not just for Ghana but for the entire continent, we are confident that by working together with our bilateral and multilateral partners, we can build forward better,” he said.

The Chief Executive Officer of the FDA, Delese Mimi Darko, said the EU’s support would go a long way to help the Authority improve on quality, safety, and efficiency of locally manufactured vaccines to meet World Health Organisation (WHO) and international standards.    

PIX : VINCENT & BUXTON

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