The World Bank Country Director for Ghana, Pierre Laporte, last Friday disclosed that the World bank has disbursed over US$10.2 billion to Ghana since the last six decades to aid in the reduction of poverty.
The Bretton Wood Institution has also on annual basis been giving the country $500m to support its development, though it did not state when the annual support started.
“The World Bank has since 1957 approved more than 216 projects and disbursed over US$10.2 billion and we believe that we have contributed to the continuous reduction of poverty in Ghana over the decades, however modest our contribution might have been.”
He made this known at the re-launch of the Ghana Chapter of Parliamentary Network (PN) and the International Monetary Fund in Accra.
Addressing the gathering Mr. Pierre Laporte expressed his hope that Ghana’s development goal would be better coordinated over time, through the national budget which would strengthen the relationship between the sector ministries and the ministry of finance.
“As we deepen our dialogue and support reforms in specific sectors, it is our hope that our work over the years, through the national budget, strengthens the way that sector ministries work with the Ministry of Finance to coordinate Ghana’s development agenda and achieve the results that Ghana has set out for herself”, he added.
According to him, despite the recent economic challenges in the country, he is convinced that Ghana can sustain its lower middle income country status to become a fully-fledged middle-income country.
He continued that the World Bank supports the country with approximately US$500 million a year for road, energy, water, health, education, jobs and skills, social safety, governance and assistance to improving the business environment.
A ranking member and Vice Chair of the Parliamentary Network in Ghana, Ato Forson, in his remarks said the efforts and impact of the PN has been underestimated, especially when the World Bank has made input in the country’s policies.
The event brought together the World Bank Country Director, Pierre Laporte, Chair of the Global Parliamentary Network, Rt. Hon. Liam Byrne, Cassiel Ato Forson, Ranking Member of the Finance Committee in Parliament and the Vice Chair of the Parliamentary Network, Ghana Chapter, as well as other Members of Parliament.
The Parliamentary Network provides a platform for parliamentarians from World Bank and IMF member countries to advocate for increased accountability and transparency in International Financial Institutions and multilateral development financing.
