Press spotlights releases of $150m by World Bank for Odaw Basin flood control, others

APA – Accra (Ghana)
The report that the World Bank has released $150 million to the government as additional funding to improve on flood resilience in the Odaw River Basin in the Greater Accra Region is one of the trending stories in the Ghanaian press on Monday.
The Graphic reports that the World Bank has released $150 million to the government as additional funding to improve on flood resilience in the Odaw River Basin in the Greater Accra Region.
The loan is to fund the Greater Accra Resilient and Integrated Development (GARID) Project aimed, among other objectives, at improving flood risk and solid waste management for over 2.5 million people in the Odaw River Basin.
The World Bank Country Director for Ghana, Liberia and Sierra Leone, Pierre Laporte, said “the bank is happy to support Ghana in these times of macroeconomic challenges and to help contribute to a holistic flood management approach through this additional financing of GARID”.
Mr Laporte further explained that the gesture was critical for achieving “the World Bank’s twin goals of ending extreme poverty and boosting shared prosperity as well as increasing the resilience of African cities”.
“This additional support fills a financing gap resulting from the triggering of the Contingency Emergency Response Component (CERC) in 2020 due to the COVID-19 pandemic and the inclusion of resettlement compensation for approximately 2,800 project affected persons.
It also addresses cost overruns for major infrastructure investments due to inflation and engineering requirements” the country director indicated.
The Senior Urban Specialist and Task Team Leader for GARID project, Catherine Lynch, for her part said “the planned flood mitigation infrastructure investments under GARID will directly reduce the flooding risks for urbanising and economically productive areas of the Greater Accra Region, limiting the direct flood hazards on more than 138,000 people”.
The newspaper says that Ptresident Akufo-Addo in his address on the updates regarding Ghana’s enhanced response to the coronavirus pandemic, he emphasized the significance of the COVID Health Recovery Levy in addressing the unforeseen expenses caused by the crisis.
While acknowledging that this levy may not be well-received by the public, he urged citizens to support the government and understand the necessity of this measure in bridging the financial gaps created by the pandemic.
President Akufo-Addo reassured the public that the COVID expenditures, which were primarily unplanned, underwent an audit initiated by the Auditor-General and are currently undergoing parliamentary processes.
He stated, “I want to make it clear that the COVID expenditures, which were essentially unplanned, were audited by the Auditor-General at my request and are currently going through parliamentary processes. We all deserve to be reassured that the crisis was not exploited for corrupt activities.”
The President acknowledged the introduction of the COVID Health Recovery Levy Act, 2021, Act 1068, as a necessary step to address the financial implications of the pandemic.
He recognized that it might not be the most popular tax, but he appealed to the people of Ghana to comprehend the need for this levy during these challenging times.
He stated, “The COVID Health Recovery Levy, which was implemented to help address some of the financial gaps, may not be widely favoured, but I urge all of you to be patient with us.”
Additionally, President Akufo-Addo expressed his gratitude to the Covid Trust Fund, emphasizing its pivotal role in providing support during the pandemic.
The Ghanaian Times reports that the Speaker of Parliament, Mr Alban Sumana Kingsford Bagbin, has recalled Members from recess for the commencement of the Second Meeting of the Third Session of the Eighth Parliament of the Fourth Republic.
The recall instrument pursuant to Parliament’s Standing Order 37 appointed Tuesday, June 6 and Parliament House, Accra, as date and venue of the first sitting of the meeting.
“In pursuance of standing order 37 of the Parliament of Ghana, I, Alban Sumana Kingsford Bagbin, Speaker of Parliament, hereby give notice that the Second Meeting of The Third Session of the Eighth Parliament of the Fourth Republic shall commence on Tuesday, the 6th day of June, 2023 at Ten O’clock in the forenoon at Parliament House, Accra,” the instrument signed by the Speaker on May 18 reads.
When the House reconvenes, it is expected that one of its earliest business would be to swear in the Member of Parliament-elect for the Kumawu Constituency, Ernest Yaw Anim, who won Tuesday’s by-election.
The election was occasioned by the death of the then sitting MP, Philip Basoah, in Accra on Monday, March 27, 2023, after a short illness.
As part of its programme activities, the Finance Minister, Ken Ofori-Atta would also be expected to brief the House on the recently secured US$3 billion International Monetary Fund bailout.
Mr Ofori-Atta will also on or before July 31, present to the House the mid-year review of the 2023 Budget Statement and Economic Policy of government in line with the Public Financial Management Act.
Additionally, the First Deputy Speaker-chaired Appointments Committee would also be expected to vet and present a report to plenary for approval or otherwise of Chief Justice nominee, Gerrude Araba Esaaba Torkornoo.
The newspaper says that Mastercard has held its first-ever Fraud and Cyber Security Forum in Ghana in partnership with the Ghana Cyber Security Authority (CSA).
The event brought together key players in the ecosystem, including financial institutions, regulators, and fintech, to examine the latest fraud trends and address crucial aspects of cybersecurity in Ghana.
With the increased adoption of digital services, new payment flows, and connected supply chains, cyber risk is one of the topmost risks faced by organisations today.
It is essential that this risk is well understood and managed by organisations to protect themselves and their customers.
The threat of cybercrime is also growing, with identity theft, ransomware, and phishing attacks becoming more common. Mastercard recognises the seriousness of these threats and places a high priority on fraud prevention and cybersecurity in all the countries it operates, including Ghana.
“We must help businesses prepare for cyberattacks and decrease financial risk by identifying data breaches, assessing cyberthreats, and acting on insights,” said Bossman Kwapong, the Country Director for Ghana at Mastercard, in a statement issued after the forum.
“As the digital economy grows, so do the intentions of cybercriminals who are ready to exploit weak links. Our partnership with the Cyber Security Authority of Ghana is a significant step towards ensuring the safety and security of our partners and customers,” he added.
The forum covered the latest attack methods utilised by cybercriminals, the assets they target, and the motivation behind such attacks.
GIK/APA