The European Commission says it will provide just over US$300 million for a five-year development plan for Ghana.

The organisation says it wants to help the Ghanaian government promote economic growth and curb inequalities.

More than US$200 million will go towards uplifting rural development projects.

About US$80 million will be set aside to help Ghana manage a budget deficit or sudden drop in export revenues.

The donation from the commission follows an agreement it signed with African, Caribbean and Pacific countries in 2000.