H.E. Zhang Keyuan, Ambassador of the People's Republic of China to Ghana and Hon. Dr Samuel Nii Ashong, Minister of State in Charge of Economic Planning signed a 20 million-Yuan grant agreement (2.4 million dollars) on 16 December 2004 for the implementation of projects on behalf of their respective governments.

The 2.4 million-dollar grant brings total Chinese government assistance to Ghana to about 135.6 million dollars, including interest free loans.

Dr Ashong expressed the government's gratitude for the continuous assistance of the Chinese government to Ghana, saying that the grant clearly demonstrated the Chinese government's commitment to the development efforts of Ghana, especially in improving the vital sector of economy. He gave the assurance that the government would put the fund to good use to achieve the purpose for which it was given. He recounted some projects which were financed by the Chinese government. These include the National Theatre, the police and military barracks, the Dangme East Hospital, the Ofankor-Nsawam dual carriage highway, the Kumasi Youth Centre and the supply of the equipment for the Ministry of Finance and Economic Planning.

H.E. Zhang Keyuan commended the deepened bilateral cooperation between the two countries and spoke highly of the economic progress that Ghana had achieved.