Two grant agreements totalling four-point two-five billion cedis have been signed between the Ministry of Finance and Caisse Francaise de Development, a French government aid agency. The first grant of one-point-seven-five billion cedis will enable Ghana to continue with studies to promote better identification, selection and preparation of development projects in water supply, communication, transportation and agriculture. The second grant of about two point five billion cedis aims at increasing cotton production from 20,000 tons to 50,000 as a long-term goal. Signing on behalf of Ghana, the Minister of Finance, Mr.. Kwame Peprah noted that Ghana has been benefiting from the Project Preparation Fund since 1987. He said Ghana's ability to absorb donor assistance is hampered by the non-availability of statistics on various projects which makes feasibility studies of donor agencies and investors difficult. Mr.. Peprah reiterated that the grants which were agreed during the last meeting in France are aimed at implementing projects to expand cotton production in the Northern Regions to alleviate poverty and stimulate a rapid and sustainable increase of production nation-wide. The French Ambassador, Mr.. Didier Ferrand who signed on behalf of his country, expressed continued support to Ghana. He hoped the grants will help alleviate poverty in the affected areas. The project is expected to cover three years, however its continuation depends on the progress accomplished during this period.

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