Off the wire
• Albania to turn Sazan Island military base into tourist destination  • 320 foreign observers to monitor Algerian polls  • Interview: 65 years on, Senanayake family remembers China-Sri Lanka rubber-rice pact  • Mexico City campaign against sexual harrassment goes viral  • Roundup: Morocco's king appoints new gov't to end political deadlock  • French Cup results  • French PM visits Algeria to boost partnership  • U.S. stocks retreat after Fed minutes  • Chicago agricultural commodities settle higher  • Most Fed officials consider reduce balance sheet later this year: Minutes  
You are here: 　 Home

Ghanaian president calls for increased investments in infrastructure

Xinhua, April 5, 2017 Adjust font size:

Ghanaian President Nana Akufo-Addo on Wednesday said the Ghana Infrastructure and Investment Fund (GIIF) is an important vehicle Ghana can use, with its 250 million U.S. dollars seed funding.

He was speaking at the Flagstaff House in Accra after inaugurating a nine-member Board of Directors of the GIIF which has the mandate of providing financial resource to manage, coordinate and invest in a diversified portfolio of infrastructure projects in Ghana for national development.

Acknowledging that Ghana lacks a fully developed infrastructure, such as accessible transportation systems, affordable, reliable power and greater industrial and manufacturing platforms, Akufo-Addo noted that investments in infrastructure should lead to greater economic activity and job creation.

He said the challenge is to find the money and expertise to make such investments from both public and private sectors.

"We have to mobilize the private sector to fill the gap. That is how we would be able to achieve our goals for infrastructure development. This is the principal objective of the fund, which is to accelerate economic growth," he said.

The board is chaired by Christopher Ameyaw Akumfi, former minister of the Ministry of Education. Endit