The European Union (EU) has entered into a 42-million euro Financing Agreement with Ghana, with the aim of promoting sustainable development, fostering economic growth, and strengthening key sectors crucial for the EU-Ghana partnership.

These Financing Agreements mark a new era of cooperation and progress between the two parties, focusing on green transition for agribusiness, sound public financial management, and private sector development.

The agribusiness component will support the sustainable development of four value chains, including shea, soybean, vegetables, and beekeeping. It will also back sustainable cocoa production and initiatives to prevent deforestation and promote reforestation, in compliance with EU Deforestation Regulation and Forest Law Enforcement Governance and Trade Voluntary Partnership Agreement (FLEGT).

This investment in agribusiness aims to uplift smallholder farmers, generate employment, enhance productivity, and improve market access. It will enhance the competitiveness of agricultural products, drive economic growth, and promote a sustainable and inclusive agriculture sector.

The other component recognizes the vital role of the private sector in the green and digital transition. It will support access to innovative, green finance for Micro, Small and Medium Enterprises (MSMEs), enhance the regulatory environment, and develop digital and green business skills, while fostering connections between academia and industry.

Furthermore, the agreement will promote sound public financial management, ensuring stability, transparency, and accountability. It will enhance gender and green responsiveness, transparency, and accountability, reinforcing audit and procurement functions.

Mr. Ken Ofori Atta, the Minister of Finance, expressed his gratitude for the partnership, highlighting the mutual benefits it will bring to both countries. He emphasized the commitment to efficient resource coordination for development, especially during the Ghanaian economy's rebound.

Mr. Irchad Razaaly, the EU Ambassador to Ghana, underscored the comprehensive approach to sustainable development, serving as a catalyst for the implementation of the EU's Global Gateway Strategy. He emphasized the strength of the EU-Ghana partnership and their shared commitment to sustainable development.