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Korea halts $1Billion concessional loan meant to support 10 projects in Ghana
The Korean government has hold on to a 1 billion dollar concessional loan aid meant to support about 10 projects in the country, Korea Ambassador to Ghana, Mr Lim Jung-Taek has disclosed.
He said the projects which includes, the Volta River Improvement Transportation Project, Techiman Water Project, Expansion works on the University of Environment and Sustainable Development among others, will not receive funding for it’s commencement due to Ghana’s agreement with the IMF.
Mr Jung-Taek said this last week Friday at a seminar in Accra, organised by the Korean International Cooperation Agency in collaboration with the Embassy of the Republic of Korea in Ghana.
The programme themed, “leveraging Korea’s socio- economic growth for sustainable development in Ghana” brought together economic experts, policymakers, academics, and industry leaders from both Korea and Ghana to share valuable insights and best practices to improving Ghanaian economy.
Mr Jung-Taek said, although it’s unfortunate for Ghana to be under IMF programme, Ghana need to adopt Korea’s innovation ecosystem by building big data platforms, providing AI learning data, and enhancing education infrastructure.
He said despite Ghana’s economic challenges, the government of Korea had increased its grant aid to more than 60 per cent to address the economic challenges facing the Ghanaian economy.
Mr Jung-Taek added that the Korea government prioritize the economic friendship between the two countries, and had supported Ghana in areas of health, transport, agriculture to improving the socio economic of Ghana.
“Ghana, like Korea, has also embarked on its own transformative journey towards sustainable development.
Both nations share a deep understanding of the challenges faced by the global community and the importance of leveraging knowledge and expertise for the betterment of our societies.What I have personally witnessed during my service here in Ghana is that, like Koreans, Ghanaians don’t hesitate to learn new technology and are eager to accept high quality international standards” he said.
The Country Director of KOICA Ghana, Mr. Seugnmin Oh said, the cooperation between Korea and Ghana has a rich history, built on the foundations of friendship, understanding, and a mutual commitment to socio-economic development.
He said the two countries had built strong ties that had allowed them to learn from each other’s experiences, leveraging the lessons from Korea’s remarkable growth story and adapting them to the unique context of Ghana.
BY BERNARD BENGHAN
Ghana’s parliament has marked the 2nd edition of May Day 2026 under the theme “ Welcome Home”.
It was special day meant to celebrate the invaluable support of the workforce, recognizing the commitment, resilience, and contributions of workers to institutional growth and national development.
Delivering the message on behalf of the Speaker, the 1st Deputy Speaker, Bernard Ahiafor, described the theme as very apt, appropriate, and timely, noting that Parliament is more than a workplace, it is a shared home.
He emphasized that we cannot speak about work without speaking about people, reminding everyone that the true measure of our work is the well-being of our people.
He urged that our traditional clothing become an integral part of our everyday clothing, and that our local languages must become integral to our daily lives, interwoven into education and practiced at home.
Referencing Standing Order 63, which captures the use of local language as optional in deliberations, he encouraged a renewed commitment to identity, saying it is significant that we “come home” and present who we are so future generations can inherit a story they can fully tell.
The Clerk, Mr. Ebenezer Ahumah Djietror, in his remarks commended officers for their dedication and devotion to duty, calling on them to go the extra mile and leave legacies.
Echoing the reminder that an unexamined life is not worth living, he described the event as an invitation to reconnect with our roots through cultural revival.
The Deputy Clerk, C&FMS, Dr. Gloria Sarku Kumawu, urged all not to forget their roots, the people behind the stories of ministries, industries, and the strides made both in-house and beyond.
What began last year has now become a meaningful tradition, showcasing Ghanaian heritage, fostering unity, and encouraging innovation under the principle of diversity for unity and diversity for progress, she added.
The gathering brought together leadership, public officials, and staff across all levels, along with the media, standing as a unifying platform that honored service, celebrated culture, and reaffirmed a shared commitment to national development.
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Manhyia would serve as Ghana’s unifying force …Otumfuo assures on commemoration of 27 years on the Golden Stool
The Asantehene, Otumfuo Osei Tutu II, last Friday celebrated his 27th enstoolment with a colourful and culture-rich ceremony at the Manhyia Palace in Kumasi, drawing a distinguished gathering of dignitaries from across Ghana and beyond.
Clad in splendid kente and adorned in rich traditional regalia, the dignitaries added colour and elegance to the occasion, as the palace grounds came alive with a vibrant display of Ghanaian culture.
Traditional drumming, dancing and symbolic rites underscored the deep-rooted heritage of the Ashanti Kingdom, captivating guests and reaffirming the value of tradition in modern society.
Speaking at a high-level Executive Gala organised by the Diaspora Affairs Office of the Office of the President in strategic partnership with the E ON 3 Group, the ‘World-Meets-in-Ghana’ gala, the Asantehene urged Ghanaians to guard against the divisive tendencies of partisan politics.
The event was to honour the Asantehene’s nearly three-decade reign under the theme ‘Advancing Peace and Sustainable Economic Development through Royal Vision’.
Otumfuo Osei Tutu II noted that such attitudes threatened the country’s long-standing values of unity, civility and brotherliness.
He assured that Manhyia would continue to serve as a unifying force for the nation.
The celebration also featured the presentation of commemorative gold coins to notable national leaders, including the President, John Dramani Mahama, former Presidents John Agyekum Kufuor and Nana Addo Dankwa Akufo-Addo as well as Dr Mahamudu Bawumia, a former Vice President in recognition of their contributions to peace and national development.
By Spectator Reporter
