Skip to main content

World Bank Africa Vice President visits Ghana


By: Fred Yaw Sarpong

Mr. Makhtar Diop, the World Bank Africa Vice President for Africa paid a two-day visit to Ghana from Tuesday 4 April, 2017.

He is also expected to visit Benin and Togo after his visit to Ghana.

While in Ghana, Mr. Diop is expected to pay a courtesy call on President Nana Akufo-Addo to discuss development challenges and opportunities in Education, Energy, Agriculture, and other sectors of the economy.

The World Bank Africa Vice President will also have discussions with the head of Ghana’s economic team, Vice President Dr. Mahamudu Bawumia.

The two Vice Presidents discussions will strengthen the relationship between Ghana and World Bank Africa. They are expected to deliberate on macroeconomic issues and explore ways to work together to support Ghana's development agenda.

This will be the third time Mr. Diop is visiting Ghana, since he became Vice President in 2012.

The World Bank has been in Ghana since 1957. The current Country Partnership Strategy for Fiscal Years 2013-2018 was endorsed by the World Bank board in September 2013 and extended to 2018 in October 2016.

The active International Development Association (IDA), an arm of World Bank portfolio in Ghana comprises of 20 projects, cutting across all major sectors including energy, transport, education, water and sanitation, among others.

All World Bank commitments stand at US$1,731 billion with about 66% disbursed. Ghana also participates in four regional projects with national commitment amounting to US$383 million.




Comments

Popular posts from this blog

Akuapem-Apirede to promote tourism

By: Fred Yaw Sarpong sarpong007@gmaail.com
The Chiefs and people of Akuapem-Apirede in the Okere Constituency of the Akuapem North Municipality have put in place strategic plans to promote tourist sites in the town.
Apiredehene, Nana Saforo Okoampah III told the Daily Express that their vision is to develop Apirede in a modern way.
“We want to have a modern society and environment. We are doing this on the basis of promoting tourism here,” he added.
According to the Apiredehene, it’s their plan to promote the historic sites and the geographical location of the community.
Apirede is one of the 17 towns that forms the Akuapem State and historically, it used to house the armours of the Akuapem State. The community is part of the Nifa division of Akuapem.
He stated that one of those things was called ‘Odosu’ (the war god for Okuapemhene). “The Chief Executioner in those days for Akuapem also came from Apirede and items that he used were also kept here,” he stated.
“These are a lot of things …

Ghana to benefit from oil spill fund

By: Fred Yaw Sarpong

Ghana as crude oil importing country will benefit from the International Oil Pollution Corporation Fund if the country witnesses oil spill at its ocean.

“The fund is a global fund and it’s meant for the countries that import crude oil. The fund is voluntary but Ghana through the Tema Oil Refinery (TOR) contributes annually on behalf of Ghana,” Mr. Kojo Agbenor Efunam, the Deputy Director in charge of oil and gas at the Environmental Protection Agency (EPA) told the Daily Express.

He explained that the fund is mostly for crude oil importing countries but not those into production and exportation.

Mr. Efunam further explained that once Ghana is part of the fund, anytime there is an oil spill involving an oil tanker on the seas of Ghana, the country can apply for the fund to solve any problem resulting from the spillage.

“If the incident does not involve a tanker the country does not benefit. But if the incident involves a tanker the country applies for the fund,” he ment…

PFM Act to guide local government authority borrowing

By: Fred Yaw Sarpong
The bill, Public Financial Management (PFM) Act 921 which has been passed into law by Parliament is to guide public institutions especially the local government authority borrowing. The law was pass on 3rdAugust, 2016
According to the law, local government authority, a public corporation or state-owned enterprise is liable for the debt and other obligations without recourse to Government, unless otherwise explicitly guaranteed by Government in accordance with this Act.
Madam Eva Esselba Mends, the Chief Economic Officer and Group Head of PFM at the Ministry of Finance told the Daily Express that the law involves a lot but it also give instruction to how state institutions can borrow especially with the  local government authority.
She mentioned that there is no specific law in place that gives direction as to what local authority can do when it comes to borrowing by the authority. Other public corporations sometimes borrow with huge amount for their operation but loca…