Ghana can create 100,000 jobs from a $10 billion loan agreement with China, the West African country’s Senior Minister Yaw Osafo Maafo has said.
Vice President Dr Mahamudu Bawumia revealed on Sunday June 25 that the Chinese government had committed a sum of US$15billion to support developmental projects in Ghana.
He explained that an additional US$4billion was expected in July 2017 aside from the US$2 billion in support of government’s One-District-One-Factory project announced on Wednesday.
Dr Bawumia indicated that Ghana would leverage its resources in the partnership with the Chinese government with the funds expected to be used to boost the economy. He underscored that the China Exim Bank and other partners were committed to supporting the country.
The funding partnership with China, according to the Vice President, is not based on the traditional model of borrowing and aid. The new model, he noted, is based on the bargaining power of the country’s natural resources such as the 2.8 billion metric tonnes of iron ore deposits, 960 million metric tonnes of bauxite, 413 million metric tonnes of manganese and not to mention gold and cocoa.
China is expected to sink $10 billion into Ghana’s bauxite industry through the deal.
The main opposition NDC, however, has bastardised the deal and accused the Akufo-Addo government of hypocrisy.
However, speaking to the BBC, Mr Osafo Maafo said: “We are more than satisfied that this [deal] will benefit the ordinary Ghanaian because this will create employment for the ordinary Ghanaian. The creation of employment out of the exploitation of natural resources can only be beneficial to our people.”
The former Finance Minister emphasised: “If you have $460 billion worth of item and you need $10 billion to access it and create employment in the region of about 100,000, then what you must be mindful of is the price at which you barter this product for the 10 billion.”
Source: Classfmonline
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Hahahahha 100000 jobs in 'refined' Galamsey.... We have mined gold for over 100years what do we have to show for it and we think bauxite will do the trick?
$10bn!! Creating 100,000 jobs. That sounds ***barred word***. He should have said 1 million jobs. Give that money to a woman and she will employ 10 million people
Certainly you are right - 100 thousand jobs in the galamsey industry or not so?who are you kidding.We have new brave government and president fighting seriously galamsey for the first time to save our nation and environment.Stopping galamsey,illegal mining,arresting the chinese and deporting them back to their country was the right path for the government.I was so much supporting the president and the government in this fight.Then in the midst of this great patriotic fight against galamsey and the illegal chinese- you turned around and go to the chinese government for a loan for what and you think we should start clapping for you or what???You know what you have become a mis-educated Afrikan elite who is unpatriotic to the core and visionless.I supported the president and his government for a good change in Ghana.He started well but if he is going to change direction this way and put the nation and future generation in danger he would lose my support because I am a PanAfrikanist so I am for a strong Afrkan President and government who patriotically fights for the total interest of his nation and people without fear and compromise.