The World Bank has noted that, as part of efforts to further strengthen the recovery of the Ghanaian economy from the Covid-19 crisis, it will be supporting Government with $200 million to empower micro enterprises as well as enhance skills of entrepreneurs in the country.
The $200 million support dubbed “Ghana Jobs and Skills Project,” according to the World Bank will help secure the foundations of the economy.
Implementation of the project aimed at supporting entrepreneurs with capital and training is expected to begin in the first quarter of 2021.
“The joint project is being supervised by the Education and Social Protection of Jobs Unit because it covers both skills and jobs. This project will be looking at supporting entrepreneurs with capital and training for micro and small enterprises.”
“We’re also looking at conducting apprenticeship and entrepreneurship training, but really focusing on-the-job training which is important to make sure that these apprentices for example are able to learn on the job. And going one step further is building on certification,” said Christabel Ewuradjoa Dadzie, a Social Protection Specialist at the World Bank.
She further stated that the move will promote sustainable growth and job creation in the recovery of developing countries from the coronavirus pandemic.
World Bank Country Director, Pierre Laporte, for his part said the World Bank will continue to support Ghana and developing countries during this challenging time.
“Globally, our private sector and the international financing company, IFC, is implementing an $8-billion financing facility to keep liquidity flowing to businesses during the crisis especially to MSMEs which are major source of employment in developing countries.”
“The second phase which is a restricting phase focusing on health systems for pandemic readiness, restoring human capital and restructuring debt resolution and recapitalisation of firms and financial institutions,” he explained.
