The agreement focuses on climate and energy, good governance and sustainable economic development, with Germany committing €145.9 million to help address pressing issues in these areas.

Ghana's social protection policies under the Post Covid-19 Programme for Economic Growth (PC-PEG) were also praised by Germany as a critical intervention that would help protect the poor and vulnerable.

The Ghanaian delegation, including Finance Minister, Ken Ofori-Atta, who also signed the agreement on behalf of Ghana, and Ghana’s Ambassador to Germany, Gina Blay, were in Berlin to attend the 2023 G20 Compact with Africa conference.

Other members of the delegation were O. B. Amoah, Gifty Twum-Ampofo and a Deputy Minister of Energy, Andrew Agyapa Mercer.

The delegation also completed the annual bilateral negotiations with Germany and engaged with the Managing Director of the International Monetary Fund (IMF), Kristalina Georgieva, on Ghana's IMF Programme during a working lunch for Africa Finance Ministers and representatives of international institutions at the conference.

The German Federal Minister of Economic Cooperation and Development, Svenja Schulze, signed on behalf of his country.

Strengthened ties

The Minister of Finance said the strides made had paved the way for a future marked by strengthened economic ties, innovation and inclusive growth.

“We appreciate all the financial and non-financial commitments made towards the various sectors, including support to Ghana’s Nationally Determined Contributions (NDCs) which is aimed at supporting the private sector to invest in green energy and greening of businesses,” Mr Ofori-Atta said.

He thanked the German government for the amount committed towards social protection.

The emphasis placed on bolstering social protection initiatives demonstrated a collective responsibility toward the welfare of our citizens, fostering an environment of inclusivity and support for the most vulnerable segments of society,” the Finance Minister added.

Other areas for support

Mr Ofori-Atta also touched on the allocation to the District Assemblies Common Fund-Responsiveness Factor Grant (DACF-RFG) which he said underscored both countries’ joint commitment to local development, ensuring that resources reached the citizenry in local communities across Ghana to accelerate growth at the sub-national level.

Furthermore, he said, strides made in the energy sector highlighted the recognition of the sector’s pivotal role in driving sustainable economic progress.

“The collaborative efforts to advance renewable energy infrastructure, including our 10,000 gigawatts (GW) solar programme and innovation align perfectly with our shared goals for a greener and more resilient future,” Mr Ofori-Atta pointed out at the signing ceremony.

TVET

The minister did not mince words, thanking the German government for the support and collaboration in strengthening Ghana's technical, vocational education and training (TVET), particularly in the areas of skills development, curriculum enhancement as well as infrastructure and equipment.

The German partnership on TVET also covers industry partnership through the formal training of craft persons and strengthening connections between TVET institutions and industries, which both countries see as essential for ensuring that graduates are job-ready.