Tuesday, April 4, 2017 1:12 am
The World Bank will expand its development assistance to Ghana by 40 per cent next year, Country Director Henry Kerali said on Monday, the News Agency of Nigetia, NAN, reports.
“Next year, we will have an increase in the amount of International Development Association (IDA) available for Ghana.
“There will be 40 per cent more of IDA for the total of about 1.2 billion dollars to be spent over three years.
“So, we are expecting that the Ghana portfolio will continue to grow as World Bank group support for Ghana increases,” Kerali disclosed on the sidelines of the opening of the Country Portfolio Performance Review (CPPR).
Deputy Minister-designate for Finance Charles Adu Boahen, who represented government, urged that disbursement of donor funds be backed by results.
“I would like to remind colleagues that donor funds, be it loans or grants, are public funds and should be managed in accordance with the new Public Financial Management Law and the respective donor guidelines.”
Beatrix Allah-Mensah, Senior Country Operations Officer of World Bank in Ghana, said Ghana had improved greatly over the past four years in its project implementation.
“Ghana is doing extremely well and we want to be sure that the funds are going be used judicially and that is the focus of the results.” Allah-Mensah said.