The World Bank Country Office says it will be cutting down on the number of projects it undertakes in Ghana to focus more on larger projects that will achieve bigger impacts.
The Bank’s Country Director Pierre Laporte speaking at the commencement of stakeholder consultations with other development partners said the World Bank is seeking to develop a new strategy for its relations with Ghana.
According to him, the new strategy which should come to effect in July 2020, is expected to among others see a reduction in the sheer number of development projects the bank executes or supports in favour of projects that are billed to have wider impacts.
“Based on the consultations we are going to have, we will now develop our areas of focus. Based on this, we will develop a set of projects and analytical work for our interventions over the next six years. This is a critical exercise for the World Bank and the country. It is a strategic exercise because we want to make sure we hit the right places in our interventions.
One of the things that the bank is doing is to be selective. Gone are the days when we do 30 to 40 projects in our strategy for 4 years. We are now going to do fewer projects, bigger projects and more impactful projects,” he stated.
Mr. Laporte stated that the Bank’s new strategy will be aligned with the government’s Ghana Beyond Aid agenda which seeks to build the capacity of the private to enhance their role in economic growth.
Country Partnership Framework
The meeting held on Thursday, December 12, 2019, is first among several discussions that Bank will have with development partners and civil society organizations.
According to Mr. Laporte, the CPF is important both for the government and WBG teams so that we collectively agree upon the focus of our engagement going forward, even though there may be a need for adjustments along the way. Collaboration and coordination with DPs and CSOs essential to the WBG having impact.
The CPF will come into place at beginning of the Bank’s next 3-year International Development Association, World Bank’s financing cycle with a view to covering the next six years, and two IDA financing cycles.
The CPF expected to support govt priorities, build upon the WBG’s past engagement, and reflect analysis from the Systematic Country Diagnostic (SCD).
“The SCD identifies the most important challenges and opportunities Ghana faces in achieving further poverty reduction and economic growth and proposes a set of priority areas of intervention to accelerate growth and poverty reduction,” Mr. Laporte added.