Vice President Opens Confab

The Vice President, Professor John Atta Mills, says the government's economic policy seeks to consolidate the economic and social gains of the past decade and lay strong foundations for accelerated growth. To this end, one of the main elements of the medium term strategy is to promote more rapid rural development and create an conducive environment for private sector participation. Professor Mills was addressing the annual donors conference of the Ministry of Roads and Transport at Akosombo. It is under the theme "Towards Effective, Efficient and Sustainable Development and Management of Road Infrastructure". Professor Mills said in the long term, the government hopes to make Ghana the gate way for trade in West Africa. In connection with this, he said, the Ministry of Roads and Transport will continue to receive high priority allocation of development expenditure. He said for over a decade the sector has received over 40% of the entire development budget but the full objectives have not been realised. The Vice President said due to the growing commitments, the government has been examining various means of financing the sector, giving priority and preference to donor financing which is cost effective and less burdensome. He hinted that non-concessionary loans have been frozen in an effort to reduce inflation and government expenditure. Professor Mills therefore, appealed for more funding to enable the country to meet her development objectives. End