Hungary Takes Up Railways Development in Ghana

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· Minister for Foreign Affairs and Trade of Hungary, His Excellency, Peter Szijjarto meets with Ghana Minister for Railway Development, Honorable Joe Ghartey, to discuss railway development in Ghana.

· Following the recent meeting held in Accra between the duo, Mr Peter Szijjarto has pledged full support to boost the country’s railways sector through cooperation between Hungarian and Ghanaian companies.

· The Hungarian Minister explained that credit lines of 140 million euros have been made available for Ghanaian businesses for joint venture projects with a minimum of 50 percent Hungarian participation.

· As a result of the meeting, 100 Ghanaian students will be awarded scholarships for expertise and training in Hungary.

According to the minister, the Hungarian government has decided to take part in what he described as a good project. Therefore as part of efforts towards achieving this aim, the government had taken a number of bold decisions including reducing corporate tax to 9 percent, which had led to an increasing number of major corporations setting up in Hungary.

He, therefore, encouraged the Minister for Railways Development in Ghana to carry out the bold initiative for the sector.