The European Union under its External Investment Plan pledges to commit an additional 4.5 billion euros worth of investment in Africa by 2020.
The investment will mainly focus on supporting small holder agriculture through increasing access to finance for individuals small holder farmers.
The Vice President of the European Commission, (EU), Jyrki Katainen announced this at the end of the Ghana-EU Business Forum held in Accra, under the theme “Boosting investments for sustainable jobs in Ghana”.
While commending government for its efforts geared towards moving Ghana Beyond Aid agenda, Mr. Katainen pledged the EU’s support to make the move a reality.
He says EU’s partnership with Africa has shifted from being a donor to business partners.
He called on Ghana to take advantage of the Economic Partnership Agreement and diversify to improve trade with the EU.Ghana’s trade with EU through Foreign Direct Investment currently stands at about 300 million dollars annually.
Addressing participants at the closing ceremony of the Forum, Vice President Dr. Mahamudu Bawumia said Government will continue to provide an enabling climate for local businesses and organisations to grow in order to support President Nana Addo Dankwa Akufo-Addo’s vision of Ghana Beyond Aid Agenda.
He said government is committed to advancing a sustainable and inclusive growth, economic transformation and development to create the conducive environment for businesses to thrive.
“For Ghana, co-operating with trading partners with a win-win approach is our focus. We will continue to engage and do business with the EU, since it represents by far the biggest source of Foreign Direct Investment (FDI), to Ghana.”
