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HomeAfricaAfDB gave Ghana US$ 211.6 million in 2012

AfDB gave Ghana US$ 211.6 million in 2012

The African Development Bank (AfDB) Group Thursday revealed that it provided a total of US$ 211.6 million in grants and loans to support Ghana’s development process in 2012.

In a statement, received here by PANA, AfDB said ”2012 was a record year” for its engagement with Ghana.

”The total 2012 grant and loan approval amount represents the highest level of support the country has received from the bank within a one-year period since the bank group began operations in Ghana in 1973,” the statement highlighted.

”To date, AfDB Group has financed 105 loans and grants in Ghana valued at approximately US$ 3.755 billion. Projects funded by the bank primarily fall within the areas of transport, energy, agriculture, water and sanitation, education, health and multi-sector.”

According to the bank, 2012 was a ”record year” with the approval of four projects by AfDB’s Board of Directors.

The approved projects are said to be geared towards assisting Ghana to achieve its development objectives as outlined in the country’s Shared Growth and Development Agenda.

The projects are said be revolving around agriculture, education and energy sectors and they are focused on inclusive growth, youth employment, and women’s economic empowerment among others.

The AfDB support is also channeled through the financing of Ghana’s Rural Enterprise Program 111 which is part of government’s efforts to reduce poverty and improve living conditions in rural areas in Ghana ”by promoting the infrastructure, technologies, and skills needed for private sector development.”

Similarly, the Ghana Institutional Support Programme (GISP) which aims at enhancing the capacity of selected institutions in both the private and public sectors, is also said to have benefitted from the AfDB financial package.

Another beneficiary is “The Development of Skills for Industry Project (DISP)” which is said to have attracted US$ 120 million towards supporting quality intermediate level, technical and vocational training skills needed to foster increased productivity and consequently, economic growth to reduce poverty in Ghana.

”These approved projects are aligned to AfDB’s new Country Strategy Paper (CSP), which was approved in June 2012. The CSP forms the basis for the bank’s operations in Ghana for the period 2012-2016,” the statement concluded.

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