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The National Coordinator for the One-District-One-Factory, Mrs Gifty Ohene-Konadu has clarified that government did not sign a Memorandum of Understanding (MoU) regarding the $2bn for the policy.

Speaking to Rainbow Radio 87.5Fm, the Coordinator said, the China National Building Material Equipment Import and Export Corporation signed a Memorandum of Understanding with the Association of Ghana Industries to seal the deal.

The Vice President, Dr. Mahamudu Bawumia upon arriving from his state visit to China said, China has committed to support Ghana’s one-district, one factory (ODOF) policy with $2 billion. ‘’Government have not signed any MoU with anybody but it was AGI. The AGI represented the private sector and I want to stress that government did not sign the MoU but AGI did.

I heard people making claims that it was presented before parliament. This is a private sector led and we are still deliberating to find out the modalities involved,’’ she added.

The Vice- President, Alhaji Dr Mahamadu Bawumia, said the amount formed part of a total commitment if $15 billion the People’s Republic of China and its private enterprises were contributing to Ghana’s economic transformation agenda.

Mrs. Ohene-Konadu told Kwame Tutu that, the $2bn could further be increased to $10bn. She said, the ODOF policy was a government initiative to be implemented by the private sector, the funds would be disbursed through banks such as the GCB, the Universal Merchant Bank and the Access Bank to the private sector.