Credit: EIB
During his visit to the Grand Duchy this week, Ghana's President Nana Addo Dankwa Akufo-Addo visited the headquarters of the European Investment Bank (EIB) in Luxembourg-Kirchberg.
The Ghanaian President unveiled Team Europe's €82.5 million support for new investment to strengthen healthcare, the provision of specialist medical equipment and medicines across Ghana under the national COVID-19 Health Response Plan. The concessional Team Europe financing package comprises a €75 million loan from the EIB and a €7.5 million European Commission grant.
The new loan, representing the EIB’s largest support for COVID-19 related health investment in sub-Saharan Africa, was signed by Hon Kwaku Ampratwum-Sarpong, Ghana's Deputy Minister for Foreign Affairs and Regional Integration, and Ambroise Fayolle, Vice President of EIB, in the presence of Ghana's President Nana Addo Dankwa Akufo-Addo, EIB President Werner Hoyer and Harriet Siaw-Boateng, Ambassador of Ghana to the European Union.
“Strengthened cooperation between Africa and multilateral development partners is crucial to share global best practice and ensure a rapid response to health, social and economic challenges triggered by the COVID-19 pandemic. The European Investment Bank and the European Union are key partners for Ghana and I welcome their support for our national COVID-19 Health Response Plan. Ghanaian and EIB experts have worked tirelessly in recent months to finalise this initiative, since President Hoyer and I met earlier this year. Specialist healthcare and medical services will benefit from both the EIB’s largest backing for COVID health resilience in Africa and EU grant support”, commented President Nana Addo Dankwa Akufo-Addo.
EIB President Werner Hoyer added: “Ghana has taken significant steps to manage the impact of COVID and to unlock long-term investment. A few months ago President Akufo-Addo and I confirmed EIB backing for the Development Bank of Ghana. It is an honour to welcome our Ghanaian friends to our Luxembourg headquarters to discuss how to improve our partnership in the years ahead and increase impact".
Jutta Urpilainen, European Commissioner for International Partnerships, said: “Ghana is a key partner for the EU. We are committed to step up our strategic partnership bilaterally, supporting our renewed partnership with Africa. Europe and Ghana stand side by side to tackle the health challenges triggered by the COVID-19 pandemic, including diagnosis, treatment and vaccination. The new Team Europe support for Ghana’s COVID-19 Health Response Plan will strengthen public health systems and enhance resilience to the pandemic and future health threats across Ghana through new investment backed by the European Union and European Investment Bank".
The meeting also provided an opportunity to discuss recent EIB support for the retrofit of the Kpong Dam, Development Bank Ghana and the COVID-19 Vaccines Global Access (COVAX) initiative, explore future cooperation to support local vaccine manufacturing and outline the EIB’s strengthened engagement in Africa through a new dedicated development finance branch to be launched in the new year.
