Ghana chosen as benchmark for effectiveness of new grants – World Bank

• The World Bank has selected Ghana for a pilot to ascertain the effectiveness of new grants

• This was revealed by the Country Lead Economist for the World Bank, Aurélien Kruse

• The analysis will measure the effectiveness of support given out to developing countries

The Country Lead Economist for the World Bank, Aurélien Kruse, has said Ghana has been chosen as a benchmark to assess the effectiveness of new grants for developing countries.

According to Kruse, Ghana’s selection forms part of an analysis and pilot programme carried out to measure the significance of the Bretton Woods institution’s support given out to developing countries towards combatting the coronavirus pandemic.

Addressing participants at the opening ceremony of the Presidential Business Summit on Tuesday September 14 2021 Aurélien Kruse said, “we’re embarking on a new analytical cast for which Ghana has been selected as the pilot. The report is titled Country Climate Development Report. This analysis is important because the health crisis has also presented an opportunity to build back better economies.”

“Indeed, we believe that COVID-19 recovery measures can play a role in making an economy more resilient and sustainable. In Ghana’s case, these measures are allowing the country to leapfrog to the frontier in terms of its development path,” he explained.

Meanwhile, President Nana Addo Dankwa Akufo-Addo has said government is keen towards establishing an enabling environment for the private sector to strive.

He adds that government also remains committed to straightforward and open communication with the private sector for their prosperity.

In his words, “The strong rebound in growth, low inflation rate, the stable currency, the strong reserved position and FDI inflows are indications of our collective desire to restore the Ghanaian economy to a path of sustainable stability and growth. We will continue to strengthen engagements with the private sector towards realizing this goal.”

“The thematic areas and sectors selected for this summit have been carefully chosen to ensure that the outcome would be an actionable business plan with clear commitment from both government and the private sector,” he added.