EU to provide more support to economy
The European Union (EU) is expected to provide Ghana with a total of 320 million euros to support three main sectors of the economy between 2014 and 2020.
Advertisement
The areas are social protection, agriculture infrastructure and governance.
Also, as part of the Joint Programming agreed upon with the government of Ghana in 2014, the EU and its member states had pledged to provide 1.5 billion over the 2013-2016 period.
Since the establishment of the representation of the EU in Ghana, it has provided an estimated amount of 1.5 billion euros in development aid to Ghana.
The EU ambassador to Ghana, Mr William Hanna, disclosed this to the Daily Graphic in an interview as part of activities marking the Europe Week celebration in Ghana.
Europe week celebration
The Europe Week is celebrated at the beginning of the month of May every year to commemorate the 1950 Schuman Declaration – the birth of the idea of the EU.
The theme for this year’s celebration is: "EU-Ghana: Partnership for a Better World".
The support of the EU to Ghana, he said, was instrumental to the transformation of Ghana into a middle-income status obtained in 2010.
Other Trending Stories
“During this week we are organising a wide range of events, including free access to original European film screenings, to illustrate different dimensions of EU cooperation with Ghana and to show how it benefits both Ghana and Europe in today’s increasingly integrated world,” Mr Hanna said.
He said the EU and Ghana shared not only a history of cooperation but also similar values, such as a deep attachment to democracy and religious tolerance.
Mr Hanna said: “In our EU-Ghana partnership, we seek to work together to promote peace and security in the region to support sustainable economic and social development to develop trade and investment, to encourage regional integration and to help preserve and improve the environment and sustainable management of natural resources, including fisheries.”
The EU, he said, was a major partner for Ghana, saying “we are the most important trading partner, the biggest source of Foreign Direct Investment, the largest provider of development assistance and the biggest source of remittances from Ghanaians living abroad.”
He said with successful transition of power in 2000 and 2008, Ghana had become a reference for democratic governance.
“As current chair of ECOWAS, Ghana is championing peace and democracy in West Africa, a particularly important task this year as so many countries in the region go to the polls,” he said.
The European Union, he said, was also committed to supporting Ghana in deepening its democracy ahead of the 2016 elections.
As a middle-income country, he said, Ghana was to be commended for the tremendous efforts made to fight poverty and develop a dynamic economy.
He noted, however, that recent macro-economic challenges, combined with the energy crisis and shortcomings in public finance
management, had significantly impinged on the growth prospects of the country.
IMF deal encouraging
He said the EU had been encouraged by the recent agreement reached between the government of Ghana and the International Monetary Fund (IMF) for an Extended Credit Facility (ECF) of $918 million.
“If Ghana is to continue its positive development, the country needs to capitalise on its stable environment and implement swiftly reforms to provide a business-friendly environment and be able to reap the benefits of international trade,” he added.
Mr Hanna said the growth of the country could only be sustainable if it was inclusive, adding that the role of parliament and civil society should continue to be strengthened to involve all Ghanaians in the transformation agenda.
Advertisement
On the future outlook, he said while Ghana was expected to consolidate and strengthen its middle-income status in the coming years, the EU hoped to see Ghana take a leap forward from the old aid-dependent relationship to a new investment and trade partnership based on a community of values and interests.
“Ghana can count on the EU to deliver support for sustainable development, peace and security. We count on Ghana to continue to be a model in these areas and to work with us bilaterally, in the region and at the global level for a better world,” he said with optimism.
Writer’s email: victor.kwawukume@graphic.com.gh