The Italian Government is to give Ghana 10 million Dollars to support the private sector, Finance Minister Yaw Osafo Maafo said on Thursday.

He said a proposal has already been submitted to the Italian government, while a team comprising Ghanaian and Italian experts are working on the project document and modalities for the disbursement of the fund.

Mr Osafo Maafo announced this when he signed a 516,000 Euro Food Aid Agreement with the Italian Ambassador to Ghana in Accra. The Food Aid, which is the first from the Italian government since 1995, comprises of rice, cooking oil, tomato concentrate, wheat flour and sugar.

The Italian government he said has also agreed to support Ghana's Poverty Reduction strategy. The Finance Minister asked Italy to reconsider the training of staff for the financial sector to enable them to perform better.

Mr Giancarlo Izzo, the Italian Ambassador said Italy would reconsider the training of staff for the financial Sector. He said the aid is not to compete with Ghanaian farmers and said the proceeds be put into a special fund to help farmers produce more and export. Proceeds from the previous food aid packages have been used to fund various micro projects in the country.