Gov’t, World Bank Sign Agreements On 4 Projects

Alan Kyerematen and Pierre Laporte congratulate each other

GOVERNMENT HAS signed financial agreements for four projects with the International Development Agency (IDA) of the World Bank Group to the tune of $569.39 million.

Finance Minister Ken Ofori-Atta represented Ghana while Pierre Frank Laporte, Country Director of the World Bank represented his organisation.

Ofori-Atta, in a remark, said the projects were part of Government’s broad plans of consolidating its gains for growth, jobs and prosperity.

The projects included the Ghana Economic Transformation Project, Forest Investment Programme, Ghana Accountability for Learning Outcome Projects, and Greater Accra Resilient and Integrated Project.

Sector ministers of implementing ministries and beneficiary agencies at the signing were Alan John Kyerematen, Minister for Trade and Industry; Samuel Atta Akyea, Minister for Works and Housing, who is also MP for Akim Abuakwa; Matthew Opoku Prempeh, Minster for Education and MP for Manhyia South; Cecilia Abena Dapaah, Minister for Sanitation and Water Resources and Abdul Mustapha Hameed, Minister for Inner City and Zongo Development. Others were Benito Owusu Bio, Deputy Minister for Lands and Natural Resources as well as Charles Adu Boahen and Kwaku Kwarteng, deputy Finance Ministers.

According to Ofori-Atta, government’s focus for 2020 was to consolidate gains for growth, jobs and prosperity for all.

On the Ghana Economic Transformation Project, for example, which formed part of one of the projects, he said government had accepted the challenge of pursuing robust reforms to support the private sector as the engine to release critical investment needed for economic growth and transformation.

The project, he continued, would facilitate private investments, business regulatory reforms, including strengthening the implementation of the New Company’s Act 2019 (Act 992), support for investment promotion, spatial and industrial planning.

The project is a five-year programme with Ministry of Trade and Industry (MoTI), Ministry of Business Development (MoBD), Ghana Investment Promotion Centre (GIPC), Registrar General’s Department (RGD), Ghana Free Zones Authority (GFZA), Ghana Standards Authority (GSA), Venture Capital Trust Fund (VCTF), National Board for Small Scale Industries (NBSSI) and National Entrepreneurship and Innovation Plan (NEIP) as implementation agencies.