Ghana and China Sign $30M Grant for New University

Ghana just secured a major investment in its future, with China providing $30 million to build a university in Damongo. Finance Minister Dr. Cassiel Ato Forson and outgoing Chinese Ambassador Tong Defa signed the grant agreement during a farewell meeting that highlighted the growing partnership between the two countries.

The new university represents more than just buildings and classrooms. It will bring higher education opportunities to Damongo, a region that has historically had limited access to university-level institutions.

Ambassador Tong's brief tenure in Ghana proved remarkably productive. Beyond the university grant, he helped finalize funding for a multipurpose market in Aflao, demonstrating China's commitment to supporting Ghanaian infrastructure and development.

Dr. Forson thanked the Ambassador on behalf of President John Dramani Mahama and the Ghanaian people. He emphasized that the relationship between Ghana and China stretches back to the era of President Kwame Nkrumah and Chairman Mao, built on decades of mutual respect and cooperation.

The meeting also addressed practical improvements to trade between the nations. Dr. Forson proposed reducing reliance on third-party currencies by conducting bilateral trade directly in Ghanaian cedis and Chinese renminbi, which would cut exchange losses and make commerce more efficient.

The Ripple Effect

This university project will transform the Damongo region for generations. Students who might have struggled to afford travel to distant universities will now have access to higher education closer to home.

The investment also signals confidence in Ghana's economic future. Ambassador Tong congratulated Ghana on its improving economic performance and expressed pride in the tangible development outcomes achieved during his time in the country.

Chinese support and investment have become significant contributors to Ghana's economy. Projects like this university demonstrate how international partnerships can create lasting change when focused on education and infrastructure that serve entire communities.

A new generation of Ghanaian students will soon have doors opened that weren't there before.