Japan has advanced to Ghana a loan of $58.4 million to finance some road projects, combat poverty and improve health delivery in the country.
The remaining $1.8 million will be invested in the health sector and in poverty reduction.
The agreement was signed on behalf of Ghana by the Foreign Minister Shirley Ayorkor Botchwey.
Mrs Botchwey hailed Japan's financial and material support to Ghana.
She said: “The government and the people of Ghana sincerely appreciate the considerable financial and material support extended by Japan to Ghana over the years in our quest for economic growth and development.
"In addition to the Eastern corridor bridge project, Japan has extended grant aid and concessionary Yen loans amounting to millions of funds to support the government of Ghana in areas such as food security for underprivileged farmers.
"Fisheries promotion in Sekondi, promotion of CHPSS compounds and poverty reduction project."
She added: “Tonight, we have witnessed the signing of grant aid for two very important projects.
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"Mainly the project for the improvement of Ghanaian international corridors which forms part of the West Africa growth wing project, and the programme for poverty reduction strategy, health sector worth 6 billion, 259 million Japanese Yen and 200 million Japanese Yen respectively.
"These are all meant to promote economic and social development in Ghana.”