A Memorandum of Understanding (MOU has been signed between the Ministry and two Chinese companies, Chinese National Fisheries Corporation and Lu Ye Fisheries to secure the loan.
Mrs. Gladys Asmah, Minister was speaking at the harvesting of the first aqua culture pilot project at Akyem Soabe in Kwaebibirem District over the weekend.
The project was launched last year.
She said under the MOU, a joint committee comprising representatives of the companies and the Ministry would be instituted to supervise the project that would provide employment for the youth.
U.S.$40 Million Loan for Ghana Fish Farming Project
GHANA - Mrs. Gladys Asmah, Minister for Fisheries has announced that the Ministry of Fisheries is to contract a 40 million US dollar loan from Chinese Government to begin a 2,000 hectare fish farming project on River Pra at Shama in the Western Region, according to AllAfrica.com.