Over $10.2bn in finance support disbursed to Ghana in the last 6 decades – World Bank
More than $10.2bn in financial support from the World Bank has been disbursed to Ghana in the last 65 years.
The $10.2bn finance support, the World Bank Country Director for Ghana, Pierre Laporte tells norvanreports, has been invested in over 216 projects spread across the country.
“The World Bank has since 1957 approved more than 216 projects and disbursed over $10.2bn.
“We believe that we have contributed to the continuous reduction of poverty in Ghana over the decades, however modest our contribution might have been,” stated Mr Laporte.
Making the disclosure at the re-launch of the Parliamentary Network of the World Bank/IMF Ghana Chapter on Friday, October 7, Mr Laporte averred the World Bank makes an annual disbursement of $500m to support infrastructure and other government-related programmes.
“I believe that, the World Bank has played a significant and positive role in Ghana’s growth. Today, we bring in approximately $500m a year for roads, energy, water, health, education, jobs and skills, social safety, governance and assistance to improving the business environment,” he quipped.
The Ghana Chapter of the World Bank/IMF Global Parliamentary Network was today, October 7, 2022, re-launched by the Chair of the Finance Committee in Parliament, Hon. Kwaku Kwarteng, who doubles as the Chair of the Parliamentary Network, Ghana Chapter.
Participating in the re-launch was the World Bank Country Director, Pierre Laporte, Chair of the Global Parliamentary Network, Rt. Hon. Liam Byrne, Hon. Cassiel Ato Forson, Ranking Member of the Finance Committee in Parliament and the Vice Chair of the Parliamentary Network, Ghana Chapter and other Members of Parliament.
The Parliamentary Network provides a platform for parliamentarians from World Bank and IMF member countries to advocate for increased accountability and transparency in International Financial Institutions and multilateral development financing.
The Parliamentary Network also aims to strengthen the position of parliamentarians among international financial institutions and other development stakeholders.
The re-launch of the Parliamentary Network, Ghana Chapter follows years of inactivity of the Chapter which was established in 2011.
According to Mr Laporte, he looks forward to working closely with the Ghana Chapter in the implementation of the World Bank’s Country Partnership Framework (CPF) which seeks to support Ghana in its recovery from the Covid pandemic and lay the foundation for a resilient, inclusive and sustainable development supported by a strong private sector.