Overview

Chinese Government pledges $40 million loan for Fish Farming Project

Commitments (Constant USD, 2023)$56,337,843

Commitment Year•2008Country of Activity•GhanaDirect Recipient Country of Incorporation•GhanaSector•Agriculture, Forestry, FishingFlow Type•Loan

Status

Project lifecycle

Pipeline: Pledge

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: May 1, 2008

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

Government Agencies

Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

Government of Ghana

Loan desecription

Chinese Government pledges $40 million loan for Fish Farming Project

Interest type•Unknown

Narrative

Full Description

Project narrative

In May 2008, Ghana’s Ministry of Fisheries and two Chinese companies (Chinese National Fisheries Corporation and Lu Ye Fisheries) signed a memorandum of understanding (MOU) regarding a $40 million USD loan from the Chinese government. The proceeds from the loan would be used to undertake a 2,000 hectare fish farming project on River Pra at Shama in the western region of Ghana. The Chinese companies would provide equipment for construction works and supply the farmers with fingerlings and after harvesting buy the fish from them. It does not appear that this MOU ever resulted in an official loan commitment.