France, Ghana Push Ahead with €2.5bn Debt Deal

Ghana and France are making significant progress toward finalizing a €2.5 billion bilateral debt restructuring agreement aimed at supporting Ghana’s ongoing economic recovery, job creation efforts, and long-term development agenda.

This development was announced during a high-profile celebration of France’s National Day—Bastille Day—held at the newly refurbished French Residence in Accra. The event brought together senior Ghanaian government officials, diplomats, business leaders, creatives, and members of civil society to reflect on the deepening partnership between the two nations.

France’s Commitment to Ghana’s Economic Stability

Delivering remarks at the event, French Ambassador to Ghana, Mr. Jules-Armand Aniambossou, reaffirmed France’s dedication to supporting Ghana through both financial and developmental assistance. He described the forthcoming debt restructuring deal as part of France’s broader strategy to assist Ghana in regaining fiscal stability and stimulating economic growth after a challenging period.

“This initiative is part of France’s pledge to stand with Ghana as it works to restore economic resilience,” the Ambassador stated. “The bilateral debt agreement, valued at €2.5 billion, is a reflection of our trust in Ghana’s potential and our confidence in its future.”

He revealed that French companies have collectively invested over €2.5 billion in Ghana across various sectors, generating more than 50,000 direct and indirect jobs. These investments span infrastructure, telecommunications, agriculture, and public services—key areas vital to Ghana’s development.

“French businesses have chosen not only to stay in Ghana but to deepen their engagement. They believe in the promise of this nation,” Mr. Aniambossou added.

Supporting Innovation and Inclusive Growth

Ambassador Aniambossou also stressed the importance of building an inclusive economy—one that prioritizes opportunities for youth and fosters innovation. He cited the Artificial Intelligence for Sustainable Development (AI4SD) initiative as an example of transformative collaboration between the two countries.

The AI4SD project, jointly led by KNUST in Ghana and Université Paris-Saclay in France, is developing AI-powered solutions for use in agriculture, education, and healthcare. It also supports Ghanaian tech start-ups by offering tools and knowledge to navigate modern challenges with digital innovation.

In the cultural domain, the Ambassador spotlighted the Creation Africa Ghana program, which merges creativity with entrepreneurship. The initiative provides platforms for young Ghanaian creatives to scale their work and build sustainable careers. Following the success of the first phase, a second round of the program is already underway.

Ghana’s Appreciation and Continued Partnership

Representing the Government of Ghana, Minister for Public Sector Reforms, Madam Lydia Lamisi Akanvariba, expressed gratitude to the French government for its unwavering support—particularly in light of Ghana’s current economic recovery efforts and democratic transition.

“Ghana deeply values its longstanding and cordial relations with the French Republic,” she said. “This partnership has grown stronger over the years, and we remain committed to advancing our shared goals of inclusive development and mutual prosperity.”

She praised the impact of the French Development Agency (AFD), particularly in Ghana’s northern regions, where projects in agriculture, clean water access, and urban infrastructure are improving lives and promoting sustainable development.

The Minister also highlighted ongoing cooperation in the fields of defence and maritime security, citing joint initiatives between the French and Ghanaian navies and capacity-building programs conducted at the Kofi Annan International Peacekeeping Training Centre.

Looking Ahead

The growing cooperation between Ghana and France continues to bear fruit across multiple sectors—from finance and technology to culture and security. As the €2.5 billion debt restructuring agreement nears completion, it serves as a symbol of the enduring partnership between the two nations, built on shared values, mutual respect, and a common vision for sustainable development.

With both governments committed to deepening ties and delivering results, the Ghana-France relationship is poised to remain a key pillar in Ghana’s path toward economic transformation and resilience.