Ghana and China Sign $30m Grant for Damongo University Project
Ghana and China have signed a $30 million grant agreement. This money will help build a new university in Damongo. This project is a big step for education in the Savannah Region.
The agreement was signed during a meeting between Ghana’s Minister for Finance, Dr Cassiel Ato Forson, and the outgoing Chinese Ambassador to Ghana, H.E. Tong Defa. Dr Forson expressed appreciation to the Ambassador on behalf of President John Dramani Mahama and the people of Ghana, acknowledging his role in strengthening bilateral relations between the two countries.
Although Ambassador Tong’s tenure was brief, Dr Forson noted that it coincided with the conclusion of two major grant agreements for Ghana: funding for a multipurpose market in Aflao and the US$30 million grant for the Damongo university project.
He also highlighted the broader impact of Chinese support and investment on Ghana’s economy, reaffirming that Ghana deeply values its longstanding relationship with China, which dates back to the era of President Kwame Nkrumah and Chairman Mao.
Dr Forson further underscored the need to deepen economic cooperation by reducing exchange losses associated with bilateral trade. He indicated Ghana’s interest in exploring trade settlements in the Ghanaian cedi and the Chinese currency, the RMB, noting that reliance on third-party currencies is inefficient when trade is conducted directly between Ghana and China.
He assured the outgoing Ambassador that these discussions would be pursued at the policy level, including engagement with the Bank of Ghana.
In response, Ambassador Tong expressed gratitude to the Finance Minister for the cooperation and support during his tour of duty and congratulated Dr Forson on Ghana’s improving economic performance.
He stated his pride in the state of Ghana–China relations and noted his encouragement by the tangible outcomes achieved within a short period, particularly in the area of development cooperation.
The Damongo university project is expected to enhance access to higher education in northern Ghana, support local development, and strengthen Ghana–China ties through long-term educational and infrastructural collaboration.
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