Ghana And France Sign Two Nine Million Euro Agreements

Ghana and France on Friday signed two agreements in Accra under which Ghana will receive nine million euros for development projects.

Finance minister Yaw Osafo-Maafo signed for Ghana while Laurent Duriez, Resident Manager of Agence Francaise de Developpement (AFD) signed for the French aid agency.

Under the first agreement, Ghana will receive eight million euros for the Urban Five Project to fund the rehabilitation of roads, drainage and sewerage in 10 district capitals and secondary towns.

The money will also be used to assist local authorities in the development of their project management capacities.

A one-million euro grant is for the financing of feasibility studies on would-be AFD-funded projects.

Osafo-Maafo described the agreement as very important, coming at a time when funding is urgently required to finance development projects in rural areas.

He said it was important because government considers the improvement of the districts a major item on its programme.

"We attach a lot of importance to such projects as they hold the key to the enhancement of the lives of our rural folk," he added.