Ghana selected as pilot country for maiden ‘Country Climate Development Report’
Ghana has been selected as the pilot country for a maiden report by the World Bank Group.
The maiden report titled A Country Climate Development Report (CCDR), is a new core diagnostic tool that will help countries align climate action and development efforts and absorb new climate-related technologies as they emerge.
Making the disclosure at the Presidential Business Summit and speaking on behalf of the World Bank Country Director, Pierre Laporte, a representative from the World Bank noted the the report is important because of the Covid crisis and the hardship it has brought to Ghana and the world and also presents an opportunity for Ghana to build back better.
“Ghana has been selected as a pilot in an analytical forecast bankwide by the Bank namely A Country Climate Development Report. And this is important because of the Covid crisis and the hardship it has brought upon the world. It presents us with the opportunity to build back better and indeed we believe the Covid recovery measures can play a role in making the country more resilient and sustainable and allowing Ghana to leapfrog to the frontier in terms of its development path,” said the World Bank.
The report forms part of the World Bank’s new Climate Change Action Plan that aims to deliver record levels of climate finance to developing countries, reduce emissions, strengthen adaptation, and align financial flows with the goals of the Paris Agreement.
The Action Plan for 2021-25 broadens World Bank Group efforts from investing in “green” projects to helping countries fully integrate their climate and development goals. The Plan also comes as countries seek sustainable pathways out of the disruption caused by the COVID-19 pandemic.
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Speaking further at the Summit, the representative of the World Bank noted the Bank is committed to helping the government and the Ghanaian private sector through both direct and indirect means to recover from the pandemic.
Some of the direct and indirect means of supporting the government and the private sector he noted is through provision of fiscal resources for the Ghana Enterprise Agency (GEA) and the establishment of the Development Bank Ghana (DBG).
“The World Bank is supporting government and the private sector directly and indirectly in which the overall macro framework remains conducive and the energy sector powers the recovery of the economy without creating new debts.
“And also through two projects which are the Ghana Economic Transformation project which is to promote private investment as well as supporting the GEA, NEIP and others. This is coupled with the support for the establishment of the Development Bank Ghana (DBG),” he stated.
