Japan has restored its YEN loan portfolio to Ghana. The decision followed discussions between President John Dramani Mahama and the Japanese Prime Minister, Shinzo Abe in Tokyo on Wednesday.
The Japanese government has also approved a proposal for the construction of a new bridge across the Volta River as part of the Eastern Corridor Road Development Project.
Also announced at the press briefing, was the approval for the construction of a new Advanced Research Centre for Infectious Diseases at the Noguchi Memorial Institute for Medical Research at Legon.
The two countries have also sealed an agreement for scholarship grants for young Ghanaians under the ABE (African Business Education) Initiative to help improve the human resource development of the Ghanaian youth.
The successful meeting between the two leaders strengthens Ghana-Japan relations and affirms the International Community’s continued recognition of the Mahama Administrations commitment to enhance democracy and good governance.
Japan withdrew the Yen Loan portfolio following the decision by Ghana to seek Heavily Indebted Poor Countries facility.ghanapoliticsonline.com
The President who is currently in Japan after attending the Anti-Corruption Summit in the UK is accompanied by his wife Laudina, Foreign Affairs Minister, Hannah Tetteh, Roads and Highways Minister, Alhaji Innusah Fuseini and the deputy Finance Minister, Mornah Quartey.
Commenting at the joint press briefing g, President Mahama said “this bridge to be built over the Volta River is part of our eastern corridor road network and will be critical in improving transportation between the Northern part of Ghana and the South.”
He thanked the Government and People of Japan for the resumption of the YEN loan, noting further that the construction of the bridge and the signing of a contract for the development of the Sekondi Fishing Harbour Phase 2 project will contribute greatly to the expansion of the country’s infrastructure to boost further growth.
President Mahama is in Tokyo on an Official Visit earlier paid a courtesy call on Emperor Akihito and Empress Michiko in the company of the First Lady, HE Lordina Dramani Mahama.
President John Mahama has a long standing personal relationship with Japan which dates far back in the 90s when he worked at the Embassy in Ghana as the Information, Culture and Research Officer.
Bilateral relations between the two countries can be traced to the 1920s. The country has provided immense assistance to Ghana in the areas of health, Agriculture, Education and infrastructure development over the years. Japan imports various commodities including cocoa beans from Ghana and assists Ghana in various ways through aid.
Japan Overseas Cooperation Volunteers also assist in many ways at the grassroots level. In 2010, His Imperial Highness, Crown Prince of Japan visited Ghana. In the same year the President of Ghana, Prof. J. E. A. Mills visited Japan. After the Great East Japan Earthquake in 2009, Japan received humanitarian support from the people of Ghana.