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Government to invest in infrastructure projects-Minister

Mr Ken Ofori-Atta, the Minister for Finance, has said government would invest in infrastructure projects that are defining, ending poverty, fight corruption and build a business friendly environment that will create jobs.

 

“We, therefore, called on the World Bank and all development partners to direct their support to the realisation of this vision.

 

Mr Ofori-Atta was speaking at the launch of the Ghana and the World Bank @ 60 event on the theme: “Transforming Ghana together” in Accra.

 

He said the World Bank as Ghana’s major development partner has travelled with the country in its development trajectory since independence.

 

He said the country, therefore, expected that the continued partnership between the World Bank should be leveraged to move Ghana beyond aid.

 

He said the Bank has contributed significantly to almost all sectors of the Ghanaian economy through budget support, projects and programme financing and technical assistance.

 

“To date, we can confirm that Ghana has received approximately $ 10.587 billion from the World Bank,” he added.

 

Mr Ofori-Atta said as at August 30, 2017, there were 26 ongoing World Bank funded project and programmes valued at $ 2 billion in credit and grants of which about 70 per cent has been disbursed.

 

The Minister said government shares common goals with the Bank that were determined to end poverty as well as create prosperity and equal opportunity for all.

 

Mr Henry Kerali, the Country Director, World Bank, said the Bank since 1957, approved more than 178 projects and programme and have disbursed $10, 709 billion and “we believed that we have contributed to the continuous fall in poverty in Ghana over the decade.

 

“Today, the World Bank Group net commitment in the active portfolio is around $ 3 billion,” he added.

 

He said to make a difference and to ‘transform Ghana together’, “we must make sure that there is value for money and the value of the development support is carefully safeguarded.”

 

He encouraged all to engage with the World Bank and the authorities to demand better solution in everything that the Bank does to get the best value for money.

 

He said it was also important to ensure that woman, youth and the vulnerable people in society were always part of the development process and if that happened, nothing could stop Ghana from achieving its development goals.

 

He said Ghana could become a fully-fledged middle income country and the Bank was commitment to walk this road with the country.

 

He said currently, the Bank brings about $ 400 million a year of soft loans and credits for roads, renewable energy, water, sanitation, health, education, social protection and improving the business environment.

 

As part of the celebration, there would be essay competition on the topic “How Ghana transform” for youth between 16 -25 years and another competition to develop an application software on “App for Ghana".

 

Source: GNA