Accra, July 7, GNA - The Department of Economics, University of Ghana (UG), on Thursday cut a sod for commencement of work on a three-story structure to provide congenial atmosphere for academic work.

The complex estimated at five million Ghana cedis is being built in collaboration with the Bank of Ghana which provided a two million dollar grant for the first phase of the project to be completed within 12 months.

It comprises of an auditorium, 12 seminar rooms with 450 seating capacity, computer laboratory, library, 14 offices, washrooms and stores.

Mr Kwesi B. Amissah-Arthur, Governor of Bank of Ghana (BoG), in an address, acknowledged the immense contribution of the Department towards the training of economists for the country of which BoG had benefited immensely from the middle level staff to Governors.

He commended the lecturers, teaching assistants and other staff of the Department for their selfless contribution towards the development of human capital of the country in spite of the numerous constraints.

"I am aware that the Department has strategic plans to develop into a School of Economics," he added.

Mr Amissah-Arthur stated that the current congestion in both lecture halls and office space for lecturers due to the growth in student population over the years did not make a congenial atmosphere for academic work therefore all efforts should be made to improve on the situation.

He urged the university authorities to strictly supervise and monitor the contractor on the project to meet completion time which is within the approved budget and time schedule.

Professor Ernest Aryeety, Vice-Chancellor, UG, thanked the Board and Management of BoG for the support, saying the expansion of the infrastructure was opportune.

He announced that with effect from 2011/2012 academic year, the Department would begin a partnership programme with the African Economic Research Consortium to make it the centre for capacity building of economists in Anglophone Africa.

The Vice Chancellor appealed to benefactors of the Department to support the project to enhance its facilities.