Dr. Mahamudu Bawumia, vice president, is committed to making the blue economy a centerpiece of the New Patriotic Party’s (NPP) platform for the next general election.

The goal of the “blue economy” is to promote economic growth and effectively utilize resources like food and energy by preserving and managing freshwater and marine environments.

Dr. Bawumia stated to the audience at the University of Cape Coast’s 3rd Conference on Fisheries and Coastal Environment that the government had approved a $150 million World Bank loan intended exclusively to fight coastal erosion.

“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.

Among other things linked to the blue economy, the loan will support a number of programs including aquaculture growth, blue tourism marketing, and sustainable fishing practices.

The Vice President underlined how the blue economy has the enormous potential to boost Ghana’s economy significantly and produce a great deal of new jobs.

“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.