Accra (Greater Accra) 13 Jan. '99

The Ghana Government and the European Union have signed a four-year grant of 12.8 billion cedis (4.8 million Euro equivalent) to aid the Ghana Audit Service in its capacity building process.

The grant, which is a component of the Public Financial Management Reform Programme (PUFMARP), covers financial and performance audit, information technology and management and administration.

It will assist the Audit Service in planning and performing audits more efficiently and effectively in line with international standards and methology to ensure efficient use of resources.

Mr Kwame Peprah, Minister of Finance signed for Ghana while Mr Charles Brook, the new Head of the European Union Delegation in Ghana signed for the EU.

Mr Peprah said the provision of the facility would help strengthen the

capacity of the Audit Service and ensure accountability and transparency of

economic and financial management to enhance Ghana's growth.

Relevant legislation on the performance audit and mandate for the

Ghana Audit Service is being worked on and will soon be submitted to the

relevant bodies for consideration and approval, he said.

Mr Peprah appealed to the EU to expedite action on the disbursement of the

funds for the project.

Mr Brook said the EU has allocated 380 million Euro towards Ghana's

development programmes for a five-year period. One-third of the funds have so far been disbursed.

He expressed satisfaction with Ghana's economic progress and said the

EU will focus on specific projects; micro road infrastructure and support small and medium enterprises as well as the reformation of health, agriculture and forestry sectors.