Title: Ghana seeks more concessionary loans for projects

09 August 2013

Mr Haruna Iddrisu (arrowed) his counterpart, Mr Nihat Ergün, (at head of table), Minister of Science, Industry and Technology of Turkey and other officials during one of their meetings.

Minister of Trade and Industry, Mr Haruna Iddrisu, has said the government is seeking more concessionary loans to finance some key projects in the country.

The projects include infrastructure —energy, construction of health facilities in the Western and Central regions, building of commercial markets, reconstruction of the Ghana Trade Fair Centre, road construction in the Western and Eastern corridors — and the establishment of industrial zones (parks).

The minister, who said this in an interaction with a number of business groups and companies in Turkey during his recent visit to that country, added that the government would also welcome public-private partnership (PPP) arrangement to execute those projects, since that formed part of the key policies of the government to get projects done faster.

The Trade and Industry Minister was in Turkey as the leader of a delegation in a follow-up on President John Mahama’s visit to that country early this year.

Other members of the delegation were Mr Seth Adjei-Baah, the President of the Ghana Chamber of Commerce; Mr Johnson Adasi, the Director of Industry at the ministry and Dr John-Hawkins Asiedu of the Export Trade Division.

The minister and his entourage met with Mr Nihat Ergün, Minister of Science Industry and Technology of Turkey, MNG, officials of the Ankara Chamber of Industry, officials of the Ministry of Food Agriculture and Livestock, Agricultural Machinery and Equipment Test Centre (TAMTEST) and officials of the Ministry of Food, Agriculture and Livestock, National Food Reference Laboratory.

The delegation also visited the Ankara Chamber of Industry’s first organised Industrial Zone and the Aselsan, a military establishment.

In his meeting with Mr Ergün, the minister recalled the healthy relationship between the two nations and noted that Ghana was interested in improving and strengthening the relation between the two countries to boost and increase trade.

Mr Iddrisu urged the two copuntries to work together to be able to increase trade between the two nations from the current $500 million to $1billion per annum.

Action Plan/Recommendations
The two sides resolved to strengthen and cement bilateral relations between the two countries and strengthen collaboration between the Turkish Ministry of Science, Industry and Technology and the Ghanaian Ministry of Trade and Industry.

They also agreed to get the Ghana Standards Authority to undertake a study tour of Turkey and work towards closer collaboration between similar institutions in both countries, as well as work to conclude negotiations on the Free Trade Agreements for signature before the close of 2013.

They further agreed to stimulate investor confidence in both countries while the Ministry of Food and Agriculture was to collaborate with the Turkey Ministry of Food Agriculture and Livestock, Agricultural Machinery and Equipment Test Centre.

By Charles Benoni Okine/Daily Graphic/Ghana

Credit/Source: http://graphic.com.gh/Business-News/ghana-seeks-more-concessionary-loans-for-projects.html

Paulina says: Borrow, borrow, borrow………………………..We borrow today in U$ dollars, the interest is also in U$ dollars, we have to somehow generate enough wealth in our jagger-jagger-jagger-jagger unregulated ………..errrmmm local market, and then pay back the loan and interest in local currency to the equivalent of said loan etc etc etc, ----I put it to you that we (Ghana) will stay in the land of debt until the end of time if we don’t stop this craziness!!!

Why don’t we stop the borrow, borrow, borrow, borrowing and start asking the Chinese (we know them after all) to start building their factories, the very same factories that took China from the errrrmmm –what’s are the words to that Drake song…..from the bottom and now they are here….. if you know what I mean!!!

The thing is…..is this particular regime ….sorry government borrowing more than other successive governments –or has the epidemic that is ‘governmental borrowing’ just gone-through-the-roof!!!!

We need the right people in charge …but I can’t for the life of me …think who/whom/what it can be… maybe the right government for Ghana just aren’t born –yet…

We need to continue to pray and ask father God to guide us/Ghana –so that things get better. And pray also for real leaders and real transparency…. FITNOYSLJPHGIJMNA