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China pumps $15bn into economy – Bawumia

He further revealed that an outstanding proposal to commit additional $4 billion to support the economy agenda of the government is being worked out.

The Vice President made the disclosure in Accra after arriving from a four-day visit to China.

He said: “The Peoples Republic of China and the State and Private Sector Enterprises have together committed to support the economic transformation agenda of Nana Addo Dankwa Akufo-Addo. So far the commitment that we received in China before leaving amounted to 15 billion dollars.

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“There is a possibility that within the next month or so there are some discussion that we couldn’t conclude and another 4 billion dollars will be added to that. Of course, we will follow these through.

“At various meetings during the 4 day visit, leading Chinese companies and agencies of the government of China signed these MoU totaling about 15 billion. In the area of industrilisation for example the China National Building Materials Equipment Export and Import Cooperation signed a facility with the Private Sector led by the Association of Ghana Industries.

China’s commitment to invest in the Ghanaian economy comes at a time the government has launched a crackdown on illegal Chinese miners.

A number of them are standing trial for defying a ban on illegal mining while some have been deported for forged immigration papers.

Breakdown of investment

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China has unlock the remaining $2 billion China Development Bank loan agreement reached earlier under the Mahama administration.

It has committed $10 billion to railway infrastructure development.

China has also committed to construct 90 bridges across cities, towns and villages of Ghana.

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