UK provides 500-million pounds as credit cover for businesses

By Joyce
Danso, GNA

Accra July 11, GNA – The United Kingdom in
March this year has made available 500 million pounds as credit cover for
businesses, Selasi Adzo Nukpe, Deputy Head, Department of International Trade,
Ghana has said.

Speaking at the opening of this year’s Oil and
Shipping Africa conference in Accra, Ms Nukpe said the credit cover of the UK
Export Finance which was increased from 124 million pounds to 500 million
pounds could be accessed under flexible terms.

The two days conference hosted by Ghana Oil
Company (GOIL) in partnership of PETROSPOT Limited, a United Kingdom based
organisation also formed part of Maritime Africa Week programme.

According to Ms Nukpe, the UK was also working
on a new support package for Ghana that would facilitate the creation of jobs
for people in agro business.

She said the UK had provided financial
assistance of 66.5 million pounds in the Kumasi Airport expansion project and
recounted that the UK had been an active development partner over the past 61
years and the UK hoped to increase more engagement between the two countries
business communities.

She cited oil and gas, health, education,
railway development as some of the areas that had been supported over the

According her, because of government’s
flagship programmes such as; one district one factory and one village one dam,
the development of the Tema and Takoradi Ports were receiving some attention
and the UK saw Ghana as one of the fastest growing economies in the world and
would support Ghana in terms of trade.

Ms Nukpe said the UK was also seeking long
term economic development partnership with countries that embraced
transparency, good governance, rule of law, honesty, and fulfilment of
international obligations.

She said the UK was also shifting to provide
technical assistance that would ensure tax reforms and thereby increased
revenue and creation of decent jobs for people.

Additionally, Ms Nukpe said the UK was also
going to pay attention to agro-businesses.


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