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Germany Pledges $86 Million to Ghana for Renewable Energy Development

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Germany Pledges $86 Million to Ghana for Renewable Energy Development

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Germany has pledged 82 million euros ($86 million) to Ghana in grants to support renewable energy and financial sector development, Ghana’s finance ministry said in a statement late on Thursday.

The grants are also intended to support technical skills training, good governance, digital infrastructure transitions, food security and female empowerment, the statement said.

See related article: Germany commits €40 million to African Development Bank Group’s Climate Action Window initiative for fragile African states

Part of the money will go towards the newly-created Ghana development bank, which the statement said would “ensure access to long term and affordable capital in challenging economic times.”

The West African nation has been unable to access international capital markets since flurry of credit ratings downgrades at the beginning of the year.

Source: Reuters

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