Ghana has secured a major financial boost for its development aspirations, inking a $2 billion framework arrangement with South Korea’s Economic Development Cooperation Fund (EDCF).
The deal, signed on the margins of the 2024 Korea-Africa Summit, will bolster the implementation of Ghana’s key priority programs spanning infrastructure, agriculture, health, education, energy, roads and transport as well as ICT over the next five years.
The signing ceremony marks a significant milestone in the two nations’ long-standing bilateral economic development partnership. The Minister for Finance, Hon Dr. Mohammed Amin Adam signed on behalf of the Government of the Republic of Ghana while the Foreign Minister for Korea, Mr. Cho Tae-yeol signed for the Government of the Republic of Korea. Present at the signing ceremony were Ghana’s Foreign Minister, Hon Shirley Ayorkor Botchwey and other dignitaries from both countries.
“The signing of the 2024-2028 Framework Arrangement represents a renewed commitment to our shared vision of sustainable development and prosperity,” Dr. Amin Adam stated, underscoring the strategic importance of the deal.
Expressing profound gratitude to the Korean government, the minister said, “On behalf of His Excellency President Nana Addo Dankwa Akufo Addo and the good people of Ghana, I want to express our sincere gratitude to the Korean government and the EDCF for their continued partnership and commitment to our development journey.”
