$19bn China loan a ‘breakthrough’ – IDEG

The Executive Director of the Institute for Democratic Governance (IDEG), Dr Emmanuel Akwetey, has lauded government’s ability to secure a US$19 billion aid to boost the economy.

“The man who goes to China for three days and brings US$19 billion to our economy, let’s give him a round of applause,” he said in congratulating Vice President Dr Mahamudu Bawumia.

He was speaking on Tuesday July 4 at a China-Africa Joint Research and Exchange Programme at a conference on China-Africa relations on the theme: “Building Resilient Industries and Infrastructure for Economic Transformation in Africa: The Role of China”.

Dr Bawumia, shortly after arrival on Sunday June 25 from a working visit to China, announced that government had reached an agreement with the Chinese government for the mutual benefit of both countries.

According to Dr Akwetey: “If we could do more of that I believe it will set us up very well to transform our country, our economy, our society, our nation, in the next generation of 30 years.”

He was glad that part of the funds had been earmarked for government’s One-District-One-Factory programme at the district level.

“For me, the idea that US$2bn of the amount will go to the One-District-One-Factory, which for me is a metaphor for a government that sets its focus on steering our country towards industrialisation, infrastructural development, and transformation…I think that indeed it is an important breakthrough that we should celebrate because historically we have not had that amount of money going into local development in Ghana,” he stated.