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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
Massive celebrations were recorded countrywide as the Black Stars opened their 2026 World Cup campaign with a 1-0 victory over Panama in Toronto on Wednesday.
Midfielder Caleb Yirenkyi scored the only goal of the match late in the game as he shot in a decent cross from substitute Brandon Asante.
The win gave Ghana a positive start in the competition, placing them in second position behind England, also with three points but with a superior goal aggregate.
After the final whistle, the streets and other viewing centres were turned into partying grounds as fans, mostly clad in the team’s paraphernalia, danced to several World Cup-themed music.
Others blew the vuvuzelas in joyous mood with others putting up a spirited ‘jama’ session.
Former New Patriotic Party (NPP) parliamentary candidate for the Adentan Constituency, Akosua Manu, has urged party members to move away from what she describes as an “entitlement mentality” and focus on unity, sacrifice and hard work as the party prepares for the 2028 general election.
In a statement titled “Is Loyalty a Queue?”, and posted on facebook, Ms. Manu argued that loyalty to the NPP should not be judged by how long a person has been in the party but by their contributions and commitment to its growth.
According to her, the NPP’s history shows that many of its leaders faced significant opposition from within the party before eventually leading it to electoral success.
She cited former President John Agyekum Kufuor as an example, saying he had to overcome resistance from influential figures within the party before winning power for the NPP in 2000.
Ms. Manu noted that after the party lost power in 2008, former President Kufuor faced criticism and accusations from some party members.
However, she said supporters eventually put their differences aside and worked together to rebuild the party.
She pointed to the experience of former President Nana Addo Dankwa Akufo-Addo, who, according to her, faced opposition from some factions within the NPP despite his long service to the party.
“His trials were ten times what Kufuor endured,” she stated, adding that Akufo-Addo eventually overcame the challenges and became President of Ghana.
Turning to the NPP’s current flagbearer, Dr. Mahamudu Bawumia, Ms. Manu said he also faced resistance from different groups within the party while seeking leadership.
She praised Dr. Bawumia for contributing to policy-based political discussions in Ghana and for remaining composed following the NPP’s defeat in the 2024 elections.
According to her, party members must now rally behind him in the same way they supported former Presidents Kufuor and Akufo-Addo.
Ms. Manu, however, warned that internal divisions and a sense of entitlement remain major threats to the party’s future.
She argued that some party members place too much emphasis on how long individuals have belonged to the NPP rather than on their contributions and capabilities.
“This entitlement does not question impact. It does not ask what you sacrificed or what you built. It asks only how long have you been here,” she said.
The former parliamentary candidate cautioned that such attitudes could discourage committed members and prevent the party from selecting the best people for leadership positions.
She further called on the party’s incoming national executives to strengthen the NPP’s core values of sacrifice, honesty, integrity and dedication to national development.
Ms. Manu addressed the concerns of young party supporters, many of whom she said became discouraged following the NPP’s electoral defeat in 2024.
According to her, many young people remain eager to see the party return to power but are unwilling to support internal conflicts driven by personal ambitions.
She urged party elders to place the interests of the NPP above their individual goals and to demonstrate leadership that attracts rather than alienates members.
“The NPP is bigger than any one of us. It always has been. Our collective responsibility is to act like it,” she stated.
By: Jacob Aggrey
