France Provides Grant To Oil-Rich Ghana

Ghana has signed three financing agreements with France during a two-day official visit by French Prime Minister, Francois Fillon, to the West-African country.
The agreements were a loan of 40 million Euros, and a grant agreement of 500,000 Euros for the financing of urban development projects in the oil rich country.
Fillon said the visit showed “France’s willingness to participate in Ghana’s economic development,” adding that his country is adjusting its policies to engage non-French-speaking African nations.
“Many French companies are interested in doing business in Ghana,” he said.
Ghana started oil production last December, and it made $954.6 million from the sale of 8.6 million barrels of crude oil from the Jubilee field in the first five months of the year. This boosted its export earnings by 63 percent.
This year, Ghana’s GDP growth estimate is around 12 percent.

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