Government concludes agreements for mechanization of agriculture and Yendi water supply projects

Company News of Monday, March 18, 2019

Source: Veep Media

2019-03-18

The government has reached final agreements with the Indian Export-Import Bank (EXIM) for the launch of financing to improve agricultural mechanization services in the country's farming communities and to provide water to farmers. residents of Yendi and surrounding towns and villages.

This was announced at the end of a meeting between officials of the EXIM Bank of India, led by its chairman, Mr. David Raaquinha, and a Ghanaian delegation led by the vice president of the Republic, Mr. Mahamudu Bawumia, on the sidelines of the 14th CII-EXIM Banking Conclave on the India-Africa Partnership Project in New Delhi, India.

Following a visit by HE President Nana AddoDankwaAkufo-Addo to India last year, discussions were opened on the possibility of financing financing agreements between the Government of Ghana and EXIM Bank of India on a credit facility. $ 150 million to fund millions of facilities for the Yendi water project.

Legislative approval of both agreements has since been approved by Parliament.

At an in camera meeting between Vice President Bawumia and officials of the Indian bank EXIM on Monday, March 18, 2019, all final discussions regarding the launch of the two projects were closed and the final signature should be given for next month.

The agricultural mechanization project is expected to provide equipment and training to the various agricultural mechanization service equipment centers (AMSEC) across the country, while the Yendi water supply project will provide the Water to more than 133,000 residents of the Yendi Municipality and surrounding towns and villages that contribute to the agricultural sector through the large-scale production of food and cash crops.

Vice President Bawumia expressed appreciation for the commitments and badistance provided by the EXIM Bank of India and the Indian Government to Ghana over the years, and is committed to strengthening the relationship. friendship and cooperation between the two countries.

Previously, Mr. Bawumia had had an interactive meeting with leaders and industry leaders from India, where he had seized this opportunity, as well as the main stakeholders of the investment campaign in Ghana, to present the project of Ghana and the measures taken by the Government to create an environment conducive to investors. environment conducive to business prosperity.

Indian business leaders already operating in Ghana also took the opportunity to tell the story of Ghana, while providing crucial information on ways to further improve the business climate.