Ghana makes progress on the use of $ 3 billion in Chinese cash – Minister of Foreign Affairs | Economy

Shirley Ayorkor Botchwey, MINISTER OF FOREIGN AFFAIRS AND REGIONAL INTEGRATION, told the Chinese government that Ghana had made good progress in using the $ 3 billion loan from China's Development Bank ( CBD).

Ms. Ayorkor Botchwey briefed the Chinese government on how the lending mechanism was used when she had bilateral talks with her Chinese counterpart, Wang Yi.

The talks were held on the sidelines of the FOCAC coordinators' meeting held recently in China.

She told Chinese Foreign Minister Wang Yi that of the $ 3 billion, $ 1 billion was used to carry out the Western Corridor Gas Infrastructure Project and the Integrated Communication Strengthening Project. national security (ICT).

Ms. Ayorkor Botchwey further indicated that Ghana intended to use one billion dollars of the facility for two major rail projects. She said the Ghanaian finance minister would handle the details with her Chinese counterpart.

She said the Ghanaian finance minister must also seek support from his Chinese counterpart for the two essential projects to open the untapped areas of Ghana's economy.

The Foreign Minister revealed that the Government of Ghana has set up the Ghana Integrated Aluminum Development Corporation to develop our aluminum industry, which is seriously seeking partners for the construction of the aluminum refinery. , whose recipes will be used for the maintenance of the installation.

She said that Ghana and China had signed two subsidiary agreements for the construction of about 11 fishing ports and landing sites, as well as the information traffic management projects in the metropolitan area. ; Accra.

In addition, she explained that debt sustainability was one of the main objectives of economic policy pursued as part of the Ghanaian government's action program beyond aid in Ghana. , noting that the West African country was continually employing to reduce its debt-to-gross domestic product ratio.

At the same time, the two Foreign Ministers stressed the importance of strengthening the bilateral relations between Ghana and China, which dates back to July 5, 1960. Ms. Ayorkor Botchwey underlined the warm climate of Sino-Ghanaian relations under the enlightened leadership of Presidents Akufo-Addo and Xi Jinping.