Tag: World Bank
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African Finance Ministers tasked to allocate more resources into education sector
Finance Minister, Ken Ofori-Atta has admonished Finance ministers in other African countries to focus on allocating more resources or investments into their countries’ education sectors. This investment in education, according to him, will in the long term result in an increase in their countries’ GDP per capita. Mr. Ofori-Atta, was speaking during a regional ministerial…
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World Bank approves $145m credit to enhance urban services to 2m people in 35 Secondary Cities
The World Bank has approved an additional financing of $145 million International Development Association (IDA)* credit for the Ghana Secondary Cities Support Program. This builds on an existing program of support to secondary cities agreed in 2018 and enables the program to scale up to support 35 secondary cites across the country. A statement issued…
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World Bank provides $200m to accelerate Ghana’s digital transformation agenda
The World Bank has approved $200 million to help the Government of Ghana increase access to broadband, enhance the efficiency and quality of selected digital public services, and strengthen the digital innovation ecosystem in Ghana to help create better jobs and economic opportunities. Digital is one of Ghana’s best-performing sectors and grew on average by…
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World Bank supports payment of LEAP arrears for 344,000 beneficiary households across Ghana
The World Bank has released GHS 42 million through the Ghana Productive Safety Net Project 2 to support the government of Ghana pay two cycles of arrears of the Livelihood Empowerment Against Poverty (LEAP) for 344,000 beneficiary households. The LEAP program is one of the government’s flagship social protection programs, initiated in 2008 to alleviate…
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World Bank supports Ghana with GH¢42M to pay LEAP arrears to beneficiaries
The World Bank on Monday, April 4, 2022, released GH¢42 million through the Ghana Productive Safety Net Project 2 (GPSNP 2), to support the Government of Ghana (GoG) to pay two cycles of arrears—75th and 76th cycles—of the Livelihood Empowerment Against Poverty (LEAP) for 344,000 beneficiary households. The ongoing global economic challenges, which have been worsened by…
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Kyle Kelhofer appointed as IFC Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo
International Finance Corporation, IFC, a member of the World Bank Group, has appointed Kyle Kelhofer as Senior Country Manager for Benin, Ghana, Liberia, Sierra Leone, and Togo. Kyle Kelhofer who previously worked for IFC in Ghana, brings almost 30 years of global development experience to his new role supporting private sector growth, job creation, and…
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COVID-19: Govt’s stimulus packages impacted positively on beneficiary firms – GSS Survey
Recent data from the COVID-19 Business tracker survey for wave III conducted by the Ghana Statistical Service, GSS, between 1st and 30th September 2021, has revealed an improvement in sales of some Small and Medium-sized Enterprises as a result of the government’s stimulus packages. The positive effect was evident amongst small businesses as their sales…
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World Bank assures of increased support for climate action in developing countries
The World Bank says it will ensure that countries that want to access facilities from it from 2023 show commitment in tackling climate change as well as compliance with the Paris Agreement. This forms part of the World Bank Group’s new Climate Change Action Plan that aims to deliver record levels of climate finance to…
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Greater, more diverse participation in global trade is key to achieving Africa’s economic transformation – World Bank
The World Bank is urging African countries to expand and diversify their participation in international trade and global value chains to reduce poverty on a large scale and transform their economies. According to the Bank, the continent must go beyond trade in raw materials and link its production and trade to the global economy to…
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World Bank urges Ghana gov’t to take steps to stabilise its economy
The World Bank has charged the government of Ghana to prioritise the development of a roadmap that will return the country to a state of economic equilibrium that is credible in the eyes of stakeholders. Ghana’s public debt has increased from GH¢ 299.1 billion at the end of 2020 to GH¢344.5 billion as at end…