Ghana has received $130 million from the Chinese government to support technical and vocational education in the country.
The money is expected to improve the teaching and learning of technical education in the country and also help the various technical schools across the country.
Speaking on Okay FM’s 'Ade Akye Abia' programme, Economic Advisor to the Vice President, Dr. Gideon Boako explained that the Chinese government has realized the country’s technical education is improving under the NPP government and believes that the money will go a long way to help the schools and also provide infrastructure for the various technical schools in the country.
The Vice President has thus cut the sod for the upgrade of some technical schools in the country.
"This clearly shows that Ghana’s economic turntable has improved and it’s attracting various infrastructural support for the various sectors of the economy," he added.
Speaking on the Sinohydro deal, he added that the deal is also going to address other key needs of Ghanaians.
Apart from the massive road infrastructure that the country will benefit from the deal, the money received from the Chinese government will also be invested in other sectors of the economy.
Watch interview below
The first tranche of Chinese development loan, known as the Sinohydro deal, has been released. Ghana and China signed the agreement in which China will have access to sites to mine bauxite as compensation for the development assistance
The Vice-President, Dr. Mahamudu Bawumia, who revealed this at the Jubilee House in Accra indicated that projects under the agreement had been grouped in lots, and their review and approval were ongoing.
Major progress had been made, Dr. Bawumia stated, with the governments of China and Ghana determined to ensure the success of the ‘bauxite for development’ barter deal, which would see “the leveraging of a fraction of Ghana’s bauxite to undertake a massive overhaul of her infrastructural, industrial and agricultural base.”
The Vice-President made the disclosure at bilateral talks with a Chinese delegation.
Dr Bawumia went on a four-day official visit to the China in 2017, where he announced the signing of a number of memorandum of understanding (MoUs) with Chinese state actors to provide financing for a number of infrastructural projects in Ghana, to be financed by the exploitation of some of Ghana’s minerals, in particular, bauxite.
The $2billion Master Project Support agreement was approved by parliament in July last year, with each of Ghana’s 16 regions planned to benefit from the Sinohydro arrangement.
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