Bawumia Vows to Prioritize Blue Economy In NPP Manifesto
Vice President Dr. Mahamudu Bawumia has made a significant commitment to include the blue economy as a key component of the New Patriotic Party’s (NPP) manifesto for the upcoming general election.
The blue economy is an economic framework that focuses on sustainable utilization and preservation of marine and freshwater environments, aiming to foster economic growth and harness resources such as energy and food.
Addressing attendees at the 3rd Conference on Fisheries and Coastal Environment held at the University of Cape Coast, Dr. Bawumia announced the government’s approval of a $150 million World Bank loan specifically designated to combat coastal degradation.
“The government has been granted a $150 million loan from the World Bank to bolster the West Africa coastal area program and counteract the escalating issue of coastal degradation in our regions along the coast,” he disclosed.
The loan will fund numerous initiatives, encompassing sustainable fishing practices, development of aquaculture, and the promotion of blue tourism, among other activities related to the blue economy.
Furthermore, Dr. Bawumia underlined the government’s commitment to partnering with the private sector to foster blue economy development.
To attract private investments, the government has introduced several incentives, such as tax breaks and improved access to financing.
The Vice President emphasized the vast potential of the blue economy to create countless job opportunities and generate substantial revenue for Ghana.
“It is imperative that we seize the potential that the blue economy holds. By embracing it, we have the opportunity to create millions of jobs and unlock billions of dollars in revenue for our nation,” he stated.
Dr. Bawumia additionally highlighted the government’s dedication to ensuring sustainable and inclusive growth in the blue economy sector.
By Vincent Kubi