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Overview

Chinese Government provides RMB 300 million grant to Ghana through an ETCA as part of USD $2 billion Bauxite deal (Linked to Record ID#60154)

Commitments (Constant USD, 2023)$45,347,333
Commitment Year•2019Country of Activity•GhanaDirect Recipient Country of Incorporation•GhanaSector•Government And Civil SocietyFlow Type•Grant

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2019
Start (actual)
Dec 12, 2019

Geospatial footprint

Map overview

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This project will go towards a number of projects. The only locational information about this project relates to the University of Health and Allied Sciences. More detailed locational information can be found at: https://www.openstreetmap.org/way/332096601

Stakeholders

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

Funding agencies

Government Agencies

  • Unspecified Chinese Government Institution

Receiving agencies

Government Agencies

  • Ghana Ministry of Finance
  • Government of Ghana
  • Ministry of Education of Ghana

Loan desecription

Chinese Government provides RMB 300 million grant to Ghana through an ETCA as part of USD $2 billion Bauxite deal (Linked to Record ID#60154)

Narrative

Full Description

Project narrative

In September 2018, China's Sinohydro Corporation signed a loan agreement worth up to $2 Billion USD to the Ghanaian government for the construction of priority infrastructure projects including roads, and more specifically bauxite production facilities (Record ID#60154). Much of the funds will be repaid by Ghana in the form of refined Bauxite. According to media publications such as the South China Morning Post and CNBC, this agreement is linked to other concessional agreements as well, including China's commitment to issue 100 police vehicles to the Ghanaian national police force (Record ID#66989) and 250 RMB million in loan forgiveness(Record ID#66991) from China to Ghana. The agreement was also linked to a 300 million RMB grant from China under an ETCA, which was signed on December 12, 2019, by Chinese Ambassador to Ghana Wang Shi Ting, and Ghana's Minister of Finance Kenneth Ofori-Atta. According to a media release from Ghana's Ministry of Finance, the 300 RMB million will be used to implement economic and technical projects, and according to Xinhua, Finance Minister Ofori Atta said that part of the grant would support the Ministries of Education and Foreign Affairs, whereas a portion would also go to support the University of Health and Allied Sciences.