A senior government official said Thursday that the three-billion U.S. dollars loan secured from the China Development Bank (CDB) reflected overwhelming confidence for the Ghanaian economy and would benefit its people.

Speaking at the official unveiling of the Third National Policy Fair, Ghana's Minister of Information Fritz Baffour said the loan would help the government to implement its accelerated development programs, especially expansion of the country's infrastructure.

The Ghana-CDB loan agreement was signed when President John Evans Atta Mills visited his Chinese counterpart, Hu Jintao, in September 2010.

Baffour extolled the government's achievements in all sectors of the economy, recognizing particularly the sustenance of single digit inflation rate of 8.6 percent for 22 months and ensuring a historic 13.6 percent GDP growth rate within the past three years.