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Ghana signs $570 million agreement with World Bank

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Ghana and the World Bank Group have signed a 570 million-dollar agreement to implement four projects to accelerate growth and inclusiveness in Ghana.
The six-year projects will transform the economy, improve education, reduce forest losses, improve sanitation and address flooding in the nation’s capital, Accra.
The first of the four agreements signed is the Greater Accra Resilient and Integrated Development project. It is a 200 million-dollar multi-sectoral and transformative urban project to support government’s efforts of making Greater Accra a cleaner, safer and more resilient city.
It aims to mitigate flood risk along the Odaw river basin and three selected low-income communities; Nima, Alogboshie and Akweteman.
The 150 million-dollar Ghana Accountability for Learning Outcomes Project follows the chart. It aims to improve the quality of education in low performing basic education schools and strengthen equity and accountability in Ghana’s education sector.
Promoting private investment and steady growth in non-resource-based sectors of the Ghanaian economy, is the objective of the 200 million-dollar Ghana Economic Transformation Project.
The final project is the Additional Financing for the Ghana Forest Investment Programme, which is a 12.4 million-dollar grant and 7 million-dollar loan project.
It seeks to reduce forest loss and degradation in selected landscapes in Ghana’s
The Minister for Finance, Ken Ofori-Atta said the projects are aligned to government’s vision of industrialization and making Ghana self-reliant.
The World Bank tasked the implementing partners to establish feedback mechanisms to ensure grievances of beneficiaries are addressed.
The bank said this will ensure the successful implementation and success of the four programmes.

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