The Danish Government is to make available an amount of 37 million dollars (about 281.2 billion cedis) to support Ghana's private sector programme and projects this year.

The decision was the outcome of a four-day annual consultative meeting on development co-operation between the two countries, which ended in Accra on Friday.

Announcing this at a brief ceremony to sign the minutes of the meeting, Dr Gheysika Agambila, Deputy Finance Minister, said although the two sides were satisfied about government's modest success in ensuring economic stability, they also recognised that stability alone was not enough unless it was translated into the well being of the people.

He said the Danish government had agreed to base all its assistance to Ghana on the Poverty Reduction Strategy.

A key area of this assistance would be the development of the private sector, which Dr Agambila said was essential if Ghana was to reduce poverty on sustainable basis.

Equally important was the need for the developed countries to open up their markets to exports from the developing economies for them to earn more and break the barrier of poverty, he said.

Mr Peter Lysholt Hansen, Under Secretary of State in the Ministry of Foreign Affairs and the Leader of the Danish delegation, said they were impressed by Ghana government's development agenda, saying it fits into the Danish one.

He said they were equally touched by the government's commitment to reduce corruption, a vice that is injurious to the country's progress and to donors.

Mr Hansen pledged the Danish government's support for the private sector to contribute effectively to lift the economy out of the woods.

An important plan for the sector is the development of a Business Sector Support Programme, which would focus on the legal regulatory framework, including possible support for commercial courts, the business sector advocacy support to associations and improved access to international markets.

Mr Hansen said that some pilot activities might be undertaken quickly before the implementation next year.

Other areas to receive support include health, water and sanitation, Transport and Energy.

The primary aim of the consultations was to take stock of the development co-operation between the two countries.

Senior Minister, Mr J.H. Mensah led Ghana's delegation to the meeting.