Ghana has received a US$30 million grant from China to support the construction of a new university in Damongo, a move set to boost the country’s higher education infrastructure.
The agreement was signed during a meeting between Finance Minister Cassiel Ato Forson and outgoing Chinese Ambassador to Ghana, Tong Defa.
Ato Forson thanked the Ambassador on behalf of President John Dramani Mahama and the people of Ghana for his efforts in “strengthening bilateral relations between the two countries.” He stated that Ambassador Tong’s brief tenure saw the conclusion of two key grant agreements: the US$30 million for the Damongo university and funding for a multipurpose market in Aflao.
Highlighting China’s continued support for Ghana’s development, the finance minister reaffirmed the long-standing relationship between the two countries, tracing ties back to President Kwame Nkrumah and Chairman Mao.
Ato Forson also spoke on economic cooperation, stressing the need to reduce exchange losses in bilateral trade. He said Ghana is exploring direct trade settlements using the Ghanaian cedi and the Chinese renminbi, to avoid inefficiencies associated with third-party currencies. “These discussions will be pursued at the policy level, including engagement with the Bank of Ghana,” he added.
Ambassador Tong expressed gratitude for the cooperation during his posting and congratulated Ato Forson on “Ghana’s improving economic performance.”
He described Ghana–China relations as strong and said he was “encouraged by the tangible outcomes achieved within a short period, particularly in development cooperation.”
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