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China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Image from Ghana Business News
Ghanaian parliamentarians recently called for a bipartisan approach to work with the Chinese government to reach a $2 billion Sino-hydro barter arrangement.
Mr Frank Annoh-Dompreh, Chairman of Parliament's Foreign Affairs Committee, in a statement on the floor of the House, emphasised the need to deepen the long-standing relations between Ghana and China.
The Parliament of Ghana approved a $2 billion Master Project Support Agreement (MPSA) between Ghana and Sino-Hydro Corporation Limited for the construction of priority infrastructure projects.
Under the deal, Sinohydro Group Limited is expected to provide the funds for infrastructure including roads, bridges, interchanges, hospitals, housing and rural electrification in exchange for Ghana's refined bauxite.
According to the terms of agreement, Ghana would only pay on the portions of the funds equivalent to work that would be done.
Mr Frank Annoh-Dompreh also stated that the Sino-hydro deal was a giant step to transform and fast-track the country's developmental agenda.
"Ghana has a long standing relationship with China and I believe that this new agreement is another giant step to transform, enhance and fast track our development agenda", he added.
