Accra.(Greater Accra Region) 13 Oct. Ghana and France today signed two separate agreements under which Ghana will receive 12 million French francs (about 4.25 billion cedis) to finance the preparation of selected projects. Mr. Kwame Peprah, minister of finance, signed for Ghana while Mr. Didier Ferrand, French Ambassador to Ghana, initialled for the French Government. The first agreement of five million French francs (about 1.75 billion cedis) covers the Fourth Project Preparation Fund (PPF IV) which will enable Ghana to promote better identification, selection and preparation of some development projects. The PPF was established between Ghana and Caisse Francaise de Development (CFD), the French government aid agency, in 1987 under which two other grants were provided in 1989 and 1994. Under the fourth PPF, five projects, including the second phase of the Ghana Rubber Estates Limited (GREL) small outgrowers scheme, have been selected for funding. The others are a project aimed at developing rice cultivation in the Volta Region, a project for the protection and reactivation of coconut cultivation in the Central and Western regions, rehabilitation in Accra within the urban four project framework, and preliminary studies of the Bui Dam project. The second agreement of seven million French francs (about 2.5 billion cedis) will be used to revive cotton cultivation in the Northern regions as part of the government's poverty alleviation efforts in the rural communities. The aim of the cotton project, Mr. Peprah said, is to encourage producers to think of it as a lucrative farming venture which needs rapid and sustainable increase at all times. ''The choice of the cotton industry for funding by the governments of Ghana and France shows that we are both in tune with the priority needs of our people and our interest in reducing poverty,'' Mr. Peprah said. The Minister said Ghana's ability to absorb donor assistance is always hampered by lack of proper project identification, selection and preparation. Mr. Peprah, therefore, welcomed the French assistance and said the package would help Ghana to jump-start its capability in project selection and preparation. Mr. Ferrand expressed satisfaction about Ghana's ''good management of its economy'' and hoped his country's support would bring progress to Ghana. According to him, the grant will finance wages of staff of the various projects, training operations, foreign consultancy and technical assistance, among others.
Accra.(Greater Accra Region) 13 Oct. Ghana and France today signed two separate agreements under which Ghana will receive 12 million French francs (about 4.25 billion cedis) to finance the preparation of selected projects. Mr. Kwame Peprah, minister of finance, signed for Ghana while Mr. Didier Ferrand, French Ambassador to Ghana, initialled for the French Government. The first agreement of five million French francs (about 1.75 billion cedis) covers the Fourth Project Preparation Fund (PPF IV) which will enable Ghana to promote better identification, selection and preparation of some development projects. The PPF was established between Ghana and Caisse Francaise de Development (CFD), the French government aid agency, in 1987 under which two other grants were provided in 1989 and 1994. Under the fourth PPF, five projects, including the second phase of the Ghana Rubber Estates Limited (GREL) small outgrowers scheme, have been selected for funding. The others are a project aimed at developing rice cultivation in the Volta Region, a project for the protection and reactivation of coconut cultivation in the Central and Western regions, rehabilitation in Accra within the urban four project framework, and preliminary studies of the Bui Dam project. The second agreement of seven million French francs (about 2.5 billion cedis) will be used to revive cotton cultivation in the Northern regions as part of the government's poverty alleviation efforts in the rural communities. The aim of the cotton project, Mr. Peprah said, is to encourage producers to think of it as a lucrative farming venture which needs rapid and sustainable increase at all times. ''The choice of the cotton industry for funding by the governments of Ghana and France shows that we are both in tune with the priority needs of our people and our interest in reducing poverty,'' Mr. Peprah said. The Minister said Ghana's ability to absorb donor assistance is always hampered by lack of proper project identification, selection and preparation. Mr. Peprah, therefore, welcomed the French assistance and said the package would help Ghana to jump-start its capability in project selection and preparation. Mr. Ferrand expressed satisfaction about Ghana's ''good management of its economy'' and hoped his country's support would bring progress to Ghana. According to him, the grant will finance wages of staff of the various projects, training operations, foreign consultancy and technical assistance, among others.
