The Ministry of Finance has signed an agreement with the Chinese government for a US$50 million grant towards the construction of a multipurpose Fishing Port Complex at James Town in Accra.

The project is expected to enhance the productivity of fisher-folk and create about 1,000 jobs.

Work on the project that will be spread in three parts: dredging of about 118,000 cubic metres harbor basin and shipping channels; construction of hydraulic structures comprising berths, seawall and a breakwater; and the construction of administration, production and supporting facilities, including a processing area, trading market and a kindergarten.

Finance Minister, Ken Ofori-Atta, indicated at the signing ceremony that the gesture marks a significant milestone in the bilateral economic relations between Ghana and China, and that it reaffirms the commitment and determination of the two nations to broaden and deepen bilateral cooperation.

He said: “There is the need to invest in our coastal areas looking at the level of poverty. That is why this fishing harbour and landing site project will be highly impactful. This is a project that will improve the socio-economic lives of people living along the coastal belt.”

He added: “I wish to assure that the resources being provided would be judiciously used for the purpose for which they are intended.”

According to the Minister of Fisheries and Aquaculture Development, Elizabeth Naa Afoley Quaye, the project—which will be China’s biggest investment in the country — will be operational by next year.

“This is a project that will improve the general outlook for fisheries in the country and we are grateful to the Chinese government for choosing to invest in the sector.

It will also bring jobs to the youth in fishing communities because of the presence of cold store facilities, day care centres and others that will open up opportunities for employment.”

Chinese Ambassador to Ghana, Sun Baohong, indicated that the project, when completed, will enhance the country’s infrastructure base and increase the driving force of the Ghanaian economy.

She said the provision of the grant stems from her country’s continual fruitful cooperation with Ghana and also signifies a new chapter of trade relations between the two countries.