Vice President Dr. Mahamudu Bawumia has announced a significant focus on the blue economy in the New Patriotic Party’s (NPP) upcoming election manifesto.
The blue economy involves the sustainable use of marine and freshwater resources to foster economic growth while preserving the environment.
During the University of Cape Coast’s 3rd Conference on Fisheries and Coastal Environment in Accra, Dr. Bawumia disclosed that the government has approved a $150 million World Bank loan to address coastal degradation in Ghana.
This loan will support various projects, including the promotion of sustainable fishing and aquaculture practices, boosting blue tourism, and fostering other blue economic activities.
Dr. Bawumia emphasized the government’s commitment to partnering with the private sector to advance the blue economy.
Incentives like tax breaks and improved access to financing have been introduced to attract private investments in this sector.
He highlighted the immense potential of the blue economy to create numerous jobs and generate substantial revenue for Ghana.
Dr. Bawumia stressed that the government’s approach to developing the blue economy is rooted in sustainability and inclusivity.
