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Ghana receives a $180 million concessionary credit facility from India

thevaultzby thevaultz
April 27, 2021
Reading Time: 3 mins read
thevaultzby thevaultz
in General News
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Ghana receives a $180 million concessionary credit facility from India

The Indian High Commissioner to Ghana, Mr Sugandh Rajaram and Speaker of Parliament, Mr Alan Bagbin

The Government of Ghana has received a $180 million concessionary credit facility from the Indian Government as part of its development assistance to the country.  The facility consists of $150 million for agricultural mechanization and $30 million for improvement in water supply.

The Indian High Commissioner to Ghana, Mr Sugandh Rajaram presented the facility to the Speaker of Parliament, Mr Alban Bagbin.

“These are huge projects that we will be finalizing through a tender process. I hope that within the next one year the projects will start.

“India and Ghana are working together in various areas, including rural agriculture, which is a priority to improve the lives of the people.”

Mr Sugandh Rajaram, Indian High Commissioner to Ghana

Also, Mr Bagbin and Mr Rajaram discussed ways in which Ghana and India could work together to improve bilateral relations. They considered the areas of the legislature, agriculture, automobile, water supply, pharmaceuticals, among others.

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Touching on COVID-19, Mr Rajaram highlighted some assistance his government has provided as part of efforts to contain the spread of the pandemic. He said India has dispatched “gift vaccines” to some neighbouring countries, including some countries in Africa.

“Up till today, we have gifted or supplied more than 85 million vaccines to over 75 countries. We have also supplied huge amounts of drugs and equipment to more than 150 countries in the last year.

Mr Sugandh Rajaram, Indian High Commissioner to Ghana

“And the resilience of the Indian people and their governance system will ensure that India recovers from its current challenges quickly. It will, however, not be possible without the goodwill and active support of the world because India believes in living, growing and prospering with the world.”

Mr Sugandh Rajaram, Indian High Commissioner to Ghana
Commendation and Appreciation

The Speaker commended India for the huge investment it has committed into developing its human resource. As a result, Indians have become chief executive officers of some technology giants such as Amazon and Google. India is one of the fastest-growing economies in the world. It is projected to be among the three global economic giants in less than 10 years, the speaker revealed.

“I think this is something that at least Ghana can reflect over and also invest more in human resource development.”

Mr Alan Bagbin, the Speaker of Parliament

Mr Bagbin said Ghana could tap into the “rich reservoir” of India to improve on the country’s economy and parliamentary democracy. He mentioned that Ghana would continue to explore opportunities of sending parliamentary staff to India to study the country’s IT system and other areas of parliamentary functions. He added that “there are some skills that we need to learn from Indians to become more innovative and creative.”

The Majority Leader, Mr Kyei-Mensah-Bonsu also commended India for supporting other countries with COVID-19 vaccines. He was also happy that India had expressed its readiness to support the development of Ghana’s railway, automobile and agricultural sectors. For his part, Mr Ablakwa expressed his sympathy to the government and the people of India over the loss of many lives to the pandemic.

“We note that from the beginning of the pandemic, you did not keep the vaccines to yourself; no wonder the world is also extending support to you due to your selfless spirit.”

Read also: 7,000 health workers have since died from COVID, 136 million at risk – ILO

Tags: $180 million credit facilitygeneral newsGhana NewsIndian High CommissionerSpeaker of Parliament
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