Ofori-Atta Secures €82m German Grant For Ghana

by Isaac Mintah
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Mr Ken Ofori Atta in a statement yesterday, has eulogized the Parliamentary State Secretary for the German Federal Ministry of Economic Cooperation and Development, Dr Barbell Kofler; for his efforts in Ghana’s acquisition of the €82 million German grant to develop critical sector of the country’s economy.

Germany pledged to offer Ghana a new and additional grant amounting to €82 million to develop critical sector of Ghana’s economy.

The offer followed a two-day negotiations hosted by the German Ministry of Economic Cooperation Development (BMZ) in Berlin in Germany on November 28 and November 29, 2022 with support from allied agencies such as Deutsche Gesellschaft Fur Internationale Zusammenarbeit GmbH (GIZ) and KFW Development Bank.

The next inter-governmental negotiation will take place in Accra in June 2023.

Sectors to benefit are renewable energy development, financial sector strengthening, education and skills development, especially vocational and technical, digital transformation, food security, women empowerment and Micro Small Medium Enterprise Support.

The minister for first finance, Ofori Atta in a statement issued December 2, 2022 by the Ministry of Finance described the support as a game changer to the economy.

He emphasized the grant will be a real game changer in Ghana’s financial architecture.

Mr. Ofori-Atta said the grants was ‘timely’, especially in times when Ghana holds negotiations with the International Monetary Fund (IMF).

He stated the DBG had been positioned to play countercyclical role in ensuring access to long-term and affordable capital in challenging economic times, similar to KFW role during the post war reconstruction of Germany.

He told the gathering that the bank would adhere to strict highest corporate governance principles in order to ensure optimum shareholders value.

On behalf of Dr. Barbel Kofler, Christopher Rauf, the Director for Africa at BMZ assured Ghana of continuous privilege partnership status with Germany, culminating in the development of special Partnership Arrangement.

German was also committed to supporting Ghana’s arrangement with the IMF.

Ghana is seeking $3billion from the Fund to stablise it highly-indebted economy.

Minister of Finance, Ken Ofori-Atta led the delegation made of Osei Bonsu Amoah, MP, Deputy Minister of Local Government and Rural Development, Andrew Egyapa Mercer, MP and Deputy Minister of Energy, Gifty Twum Ampofo, MP, Deputy Minister of Education and Ghana’s Ambassador To German, Gina Ama Blay.

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