Ghana and France on Saturday opened a new chapter in their relations with the signing of three financing agreements to support various sectors of the Ghanaian economy.
President John Evans Atta Mills and French Prime Minister Francois Fillon, who is on a two-day official visit to Ghana, witnessed the signing and renewed their countries’ commitment to raise the level of their bilateral relations to higher heights.
The agreements were a loan of 40 million euro, and a grant agreement of 500,000 euros for the financing of the Ghana Urban Management Pilot Programme, signed by Ghana’s Finance Minister Dr Kwabena Dufuor, and Mr Henri de Raincourt, French Minister of Co-operation and Mr Dov Zerah, Chief Executive Officer of the French Development Agency.
Mr Dov Zerah, who is Chairman of the Board of Proparco, the private sector arm of the French Development Agency, also signed financing agreements for the funding of two local banks.
The first one was signed by Mr Frank Adu Jnr, Managing Director of CAL Bank, for a loan of 10 million dollars, with maturity of seven years, to support the bank’s growth, and with Mr Edward Effah, Chief Executive Officer of the Fidelity Bank Limited for a loan of eight million dollars with maturity period of five years, to support private sector investment.
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