Ghana (2)
- Created by: ofields755
- Created on: 26-05-16 11:38
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- Ghana
- AID
- Economy growing faster than that of Western Europe
- Still reliant on AID
- Receives $1 billion per year in AID (10% GDP)
- UK gov.- international development agency
- £105 million for education - 2005 - 2015
- AIDS response fund - $20 million
- Controversial - Akosombo dam
- River Volta 1961- 1965
- Produce Cheap electricity
- to use in processing local boxsight and irrigation
- 80,000 people relocated from 700 villiages
- Used bilateral aid from UK and USA & Multilateral aid from World Bank
- American firms completed the work
- Received financial ensentatives
- Economy growing faster than that of Western Europe
- Trade
- Cocoa
- Gold
- Diamonds
- Timber
- Oil and natural gas
- Narcotics
- Electricity exported so 20% benefitted from Ghana
- Fair trade scheme with 1,200 villages so more money for development
- Trade deflect have to import more expensive manufactured goods
- Debt
- 2005- Gleneagles summit Ghana allocated $4.2 billion of mulitateral debt relief
- Have total of $6 billion
- Following this Ghana was best performing country in Africa
- Poverty declined 52% in 1992 to 28% in 2006
- GDP increased by 5% from 1983-2005 = 6% since 2005
- 94% if children now attend primary school
- Frees up about $156 million per yr to spend elsewhere
- Had to repay loans and fulfil economic reforms
- 2005- Gleneagles summit Ghana allocated $4.2 billion of mulitateral debt relief
- AID
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