World Bank to allocate to Ghana $1.5bn support under proposed ‘Country Partnership Framework’
Ghana should be the recipient of some $1.5 billion allocation by the World Bank under its proposed Country Partnership Framework (CPF).
The CPF according to the World Bank Vice President for Western and Central Africa, Ousmane Diagana, is set to be presented to the Board of the World Bank latest by the end of February this year.
Making the assertion in a media briefing with business journalists on his first day of visit to Ghana, Mr Diagana averred the CPF will be operational over a four-year period with the $1.5bn allocation spread across the aforementioned time period.
According to him, the $1.5bn support from the World Bank will be channelled into the various critical sectors of the economy.
“The World Bank under the Framework with Ghana, will be looking at supporting sectors such as energy, education, health, agriculture and other critical sectors of the economy (sic).
“In supporting these areas the World Bank will targeting at creating jobs for the youth in these critical sectors (sic).
“Under the framework, the Bank will also help Ghana address it’s climate change challenges, the framework will look at making Ghana resilient to climate change (sic),” he noted.
Mr Diagana, earlier in the day paid a courtesy call to His Excellency President Nana Addo Dankwa Akufo-Addo, the Vice President, His Excellency Dr. Mahamudu Bawumia and Finance Minister.
He held high level discussions with them and other Government officials on critical areas of the World Bank’s Ghana’s programme including macro-economic, energy sector issues, COVID-19 pandemic, and vaccine rollout.
Mr Diagana this afternoon, Tuesday, February 8, 2022, is expected to visit World Bank financed projects such as the Korle Bu, the Ghana Tech Hub and Ghana Innovation Hub at the Accra Digital.
The World Bank has been in Ghana since 1957. The active portfolio is worth $2.9 billion across 25 active projects.
The portfolio is spread across several sectors, with the largest investments in finance & competitiveness (18%), Health, Nutrition & Population (13%) and social protection & jobs (13%) and urban resilience and land (10%).
