World Bank Reaffirms Support for Ghana’s Development Agenda
The World Bank has reiterated its commitment to fostering economic growth in African nations, with a particular focus on supporting Ghana’s key development initiatives.
Ousmane Diagana, Vice President for West and Central Africa at the World Bank, affirmed the institution’s dedication during a high-level delegation visit to President John Mahama’s office in Accra on Wednesday, January 8, 2025. The discussions highlighted strategies to enhance partnerships and bolster development efforts across the region.
Speaking at the meeting, Mr. Diagana emphasized the World Bank’s approach under its new leadership. “In the last couple of months since the arrival of the new president Ajay Banga, there is a concept that we call the better and bigger World Bank. But we are now focusing on the better bank before actually getting to the bigger bank,” he noted.
He further explained the principles underpinning the “better bank” approach, which prioritizes government ownership, client partnership, and the integration of financial assistance with global expertise. “We work with countries worldwide, and this has allowed us to gain a wealth of experience,” Mr. Diagana added.
Addressing Economic and Sectoral Challenges
Touching on Ghana’s economic challenges, Mr. Diagana acknowledged similarities with issues faced by other African nations such as Senegal and Kenya. He emphasized the importance of broadening the resource base and enhancing domestic mobilization to finance economic growth.
On agriculture, Mr. Diagana highlighted the potential of Ghana’s cocoa sector and the challenges it faces. “We have prepared what we call the country climate and development report, identifying the potential in agriculture, particularly cocoa, and the challenges the sector encounters,” he stated.
The World Bank has outlined recommendations to address these challenges and plans to collaborate with Ghanaian stakeholders to implement dedicated programs aimed at enhancing agricultural productivity and sustainability.
Renewed Partnerships
The visit underscores the World Bank’s ongoing support for Ghana’s economic transformation agenda. The institution seeks to integrate knowledge-sharing with financial assistance to ensure sustainable growth and resilience in the face of global economic uncertainties.
This renewed commitment is expected to further solidify Ghana’s development partnerships and advance efforts to address critical economic and sectoral issues.
