The Africa Development Bank (AfDB) have signed the Indicative Operations Programme with Ghana for projects to be implemented between 2024 and 2025.
According to reports by Graphic newspaper, the $103 million grant encompasses support to small and medium enterprises, agriculture, skills development and digitalisation.
The reports added that the parties also signed a five-year country strategy document for 2024-2029, defining sectors and projects that would be supported by the bank.
Ghana’s Minister of Finance, Dr Mohammed Amin Adam, who signed on behalf Ghana, on the sidelines of the 2024 Annual General Meeting of the AfDB in Nairobi, Kenya, commended the AfDB for its continuous commitment to the growth and development of African countries.
The minister highlighted the need for effective monitoring and supervision of projects before certificates are signed for contractors to ensure value for money.
Dr Adam described as unacceptable the inability of agencies to disburse project funds on time, saying the situation needed to change.
“I am committing to set up a monthly review of all project loans and funds that are to be disbursed so that the reports will inform us on challenges we face in the execution of projects.
“We will then engage relevant ministries, departments and agencies MDAs to see how we can solve the challenges to quicken disbursement,” the report quoted the minister as saying.
In her remarks, the AfDB Ghana Country Manager, Eyerusalem Fasika, who signed on behalf of the regional development bank, said that the institution had been providing support to Ghana in the form of grant under the African Development Fund.
She said that it was also the culture of the bank to engage various stakeholders, including civil society organisations (CSOs), MDAs, the National Development Planning Commission (NDPC), private sector representatives and other entities to solicit expert opinions for inclusion in its country strategy document.
GIK/APA
AfDB, Ghana sign $103m grant facility
