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Government and World Bank sign 157
million dollar financing agreements
Accra, July 11, Ghanadot/GNA – Ghana and the World Bank on
Friday signed four separate financing agreements, totalling
157 million dollars to support the government’s development
agenda.
The agreements include a 20-million dollar fund for the
development of natural resources and environmental
governance policy, 25 million dollars for agriculture
development, 80 million dollars for west African transport
and transit facilitation project and 22 million dollars for
community-based rural development.
An additional 10 million dollars would be used for emergency
purposes.
Signing the agreement on behalf of government, Mr Kwadwo
Baah-Wiredu, Minister of Finance and Economic Planning said
the money for environmental governance would ensure
predictability and sustainability of the forest and wildlife
sectors, improve mining sector revenue collection and
management, and address social issues in forest and mining
communities.
It would also support government’s efforts to address
emerging oil sector issues and adopt enhanced Extractive
Industry Transparency Initiative (EITI) principles.
On Agricultural Development Policy Operation (AgDPO), Mr
Baah-Wiredu said the funds would support government’s
efforts to encourage agriculture-led growth to achieve the
objectives of the Ghana Poverty Reduction Strategy (GPRS II)
through the implementation of Food and Agriculture Sector
Development Policy.
The programme would promote the positive trend of export
diversification, encourage non-state actors and private
sector to increase investments and address constraints to
productivity.
The West African Transport and Transit Facilitation Project,
according to the Minister, aimed at improving access to
Ghanaian ports to landlocked neighbours such as Burkina Faso
and Mali to facilitate efficient movement of traffic along
the Tema–Ouagadougou– Bamako corridor.
In this direction, the Buipe-Tamale section of the corridor
will be rehabilitated and strengthened.
In addition, a Satellite Transit Truck Village near the Tema
port is to be built to check transit vehicles.
The Community Based Rural Development Project sought to
strengthen the capacity of rural communities to enhance
quality of life by improving their productive assets, rural
infrastructure and access to key support services from
private and public sources.
Ishac Diwan, World Bank country Director, said the
agreements fitted into the government development strategy.
GNA
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