The European Union has approved a 175 million Euro Millennium Development Goal, MDG, Contract facility for Ghana after bilateral discussions on the sideline of the on-going AU Summit in Sirte, Libya.
The facility will be implemented over the period 2009 to 2014 to support the Government of Ghana’s development agenda aimed at achieving the Millennium Development Goals. The MDG Contract is a new modality which will offer longer term commitments and greater predictability.
EU Commissioner Lius Michel signed for the EU while foreign minister, Alhaji Mohammed Mumuni, and Deputy Finance Minister Seth Tekper signed for Ghana.
Mr. Michel pointed out that the offer comes after a careful study of Ghana’s budget programme and the recognition that it showed a strong commitment to fiscal discipline and reduction in expenditure.
