• Short Summary

    GHANA IS TO RECEIVE A LOAN TO THE VALUE OF GBP7,500,000 STERLING FROM THE UNITED STATES TO COVER THE FOREIGN EXCHANGE COSTS OF GOODS AND COMMODITY RELATED SERVICES NEEDED TO PROMOTE ITS ECONOMIC DEVELOPMENT.

  • Description

    GHANA IS TO RECEIVE A LOAN TO THE VALUE OF GBP7,500,000 STERLING FROM THE UNITED STATES TO COVER THE FOREIGN EXCHANGE COSTS OF GOODS AND COMMODITY RELATED SERVICES NEEDED TO PROMOTE ITS ECONOMIC DEVELOPMENT. THE AGREEMENT WAS SIGNED IN ACCRA ON MONDAY BY BRIGADIER AFRIFA, REPRESENTING THE GHANAIAN GOVERNMENT, AND MR FRANKLIN WILLIAMS, THE UNITED STATES AMBASSADOR IN GHANA.

    UNDER THE AGREEMENT, THE LOAN WILL BE MADE AVAILABLE IN TWO EQUAL PARTS AND WILL BE REPAID IN 40 YEARS WITH A 10-YEAR MORATORIUM. THE LOAN WILL BE USED THIS YEAR TO IMPORT ESSENTIAL MACHINERY, EQUIPMENT AND SPARE PARTS FOR EXPORT INDUSTRIES, INDUSTRIAL RAW MATERIALS AND OTHER EQUIPMENT TO KEEP ESSENTIAL SERVICES AND INDUSTRY IN FULL PRODUCTION. IT WILL ALSO ENSURE AN ADEQUATE SUPPLY OF ESSENTIAL CONSUMER GOODS.

    THE LOAN WAS GRANTED FOLLOWING THE AID MEETING IN PARIS LAST APRIL, ATTENDED BY EIGHT DONOR COUNTRIES INCLUDING THE UNITED STATES, AND SUBSEQUENT DISCUSSIONS BETWEEN GHANAIAN AND UNITED STATES OFFICIALS IN ACCRA. IN A SHORT SPEECH, MR FRANKLIN WILLIAMS SAID THE UNITED STATES WAS DETERMINED TO ASSIST GHANA IN REBUILDING ITS ECONOMY. BRIGADIER AFRIFA, THE MEMBER OF THE NATIONAL LIBERATION COUNCIL (NLC) RESPONSIBLE FOR TRADE, FINANCE AND ECONOMIC AFFAIRS, GAVE ASSURANCES THAT THE LOAN WOULD BE PUT TO VERY GOOD USE.

    BRIGADIER AFRIFA SAID THAT SINCE THE NLC TOOK OVER THE ADMINISTRATION OF GHANA ABOUT 16 MONTHS AGO, THE UNITED STATES GOVERNMENT HAD HELPED GHANA IN MANY WAYS.

  • Tags

  • Data

    Film ID:
    VLVA1O6MWHUKI74I8EVO17M3H1SYY
    Media URN:
    VLVA1O6MWHUKI74I8EVO17M3H1SYY
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    23/06/1967
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:56:00
    Time in/Out:
    /
    Canister:
    N/A

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