Accra, April 27, GNA - Netherlands has pledged about 300 million Euros to Ghana for good governance, public and private sector development, improvement in service delivery and harmonisation of cooperation between the two countries for the period 2005-2008. This was announced by Mr. Arie Van der Wiel, Netherlands Ambassador in Ghana during consultations between the Governments of Ghana and the Netherlands in Accra on Wednesday to improve on bilateral relations. The meeting was to afford both countries the opportunity to discuss development challenges and chart new course for accelerated economic growth.

Mr Van der Wiel said the Netherlands considered Ghana as an important country to promote political and economic stability within the West African Sub-region.

He said Ghana had played a major role in Sub-regional economic cooperation and was well positioned to play a more dominant role in promoting democracy, stability and economic growth in Africa through NEPAD.

Mr Van der Wiel said Ghana's track record in macro-economic management and her efforts to improve on the investment climate influenced the Netherlands Government decision in 1998 to select Ghana as a major recipient of aid.

He said Ghana received over 75 million Euros in aid and 45 million Euros as HIPC debt relief last year.

Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning said in the past, Netherlands support to Ghana had concentrated on annual commitment and projections and the consultations was to programme development assistance over long periods based on performance. Mr Baah-Wiredu said the Netherlands also supported Ghana with Balance of Payment Support and was currently focusing on Multi Donor Budget Support (MDBS) adding, " the Netherlands is among Ghana's development partners who supported the idea".

He said pledges made by some development partners, including the Netherlands for 2003 and 2004 had been fully disbursed.

"As a government we have fulfilled our part by maintaining macro-economic stability and achieved our performance", he added. Mr. Baah-Wiredu said the stable macroeconomic environment, enactment of the Public Procurement Bill, Financial Administration Act and Internal Audit Agency Act had offered the necessary attraction to investors.