World Bank Pledges Support for Ghana's Development Agenda

Accra, Ghana - 08 Jan, 2025 - In a significant boost to Ghana's economic prospects, the World Bank has pledged their unwavering support for the country's development agenda.

During a meeting with President John Mahama on Wednesday Jan 8, the World Bank's Vice President for West and Central Africa, Ousmane Diagana, outlined a comprehensive plan to unlock Ghana's economic potential, focusing on key sectors such as agriculture and infrastructure.

“In the last couple of months since the arrival of the new president Ajay Banga, there is a concept that we call the better and bigger World Bank. But we are now focusing on the better bank before actually getting to the bigger bank,'' he stated.

“So with the better bank, obviously the elements of ownership for government, client, partnership will be the order complementing the financial assistance that we are providing with the knowledge aspect because as a global institution, obviously we work with all of the countries and this has allowed us to gain a lot of experience.

“As we mentioned on the formality aspect, how we can bring resources into the economy, making sure that those are not part of financing the economy…In particular in West African countries, this challenge that Ghana is facing in that area is the same that we see in Senegal, Kenya, etc. So we are happy to bring our department working in the area into the conversation with Ghana and see how we can really widen the resource base, making sure that the domestic organisation part of financing the economy also increases,'' he added.

The World Bank's commitment is expected to inject fresh momentum into Ghana's economy, which is poised for growth despite regional and global challenges. 

Source: Lead News Online