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General News of Wednesday, 23 January 2013

Source: Graphic Online

Ghana will use donor resource for development

The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has assured the donor community of the government’s commitment to channel resources from donors into addressing the challenges confronting the economy, particularly energy and job creation.

He said the government had identified a number of areas that had been constrained, such as job creation and how to improve power generation in the country.

Mr Amissah-Arthur made the pledge when the Technical Committee of the Partnership for Growth (PFG) paid a courtesy call on him at the Flagstaff House in Accra yesterday.

The delegation from the United States of America (USA) is in the country to meet the government on the activities of the partnership and to jointly determine what will form the implementation of the programme.

The PFG is a partnership between the US and a select group of countries to accelerate and sustain broad-based economic growth by putting into practice the principles of President Barrack Obama’s September 2010 Presidential Policy Directive on Global Development.

It involves rigorous joint analysis of constraints to growth, the development of joint action plans to address those constraints and high-level mutual accountability for implementation.

One of the PFG’s signature objectives is to engage governments, the private sector and civil society with a broad range of tools to unlock new sources of investment, including domestic resources and foreign direct investment.

By improving coordination, leveraging private investment and focusing on political commitment throughout both governments, the PFG enables partners to achieve better development results.

El Salvador, Ghana, The Philippines and Tanzania agreed to become the first set of PFG countries based on their performance on the Millennium Challenge Corporation’s selection criteria, including a track record of partnering with the US, policy performance, potential for continued economic growth, among other criteria.

“We are looking at how we can improve our power generation with the involvement of independent power producers,” Vice-President Amissah-Arthur said.

He lauded the strong bond of cooperation between Ghana and the US which had yielded positive results for both countries, describing it as “wonderful cooperation”.

The leader of the US delegation, Ms Oren Whyche-Shaw, welcomed Ghana’s decision to channel the compact to improve the lives of majority of its people.

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