Business News of 2014-08-15

US$ 230.2 million budgeted to support MMDAs

About US$ 230.2 million has been committed to support District Development Facility (DDF) investments until 2018.
The DDF facility was started as part of the government’s efforts to improve the performance of the Metropolitan, Municipal and District Assemblies (MMDAs) in terms of efficiency, transparency and accountability.
The overall goal of the DDF is to ensure an efficient provision of basic community infrastructure and service delivery through judicious use of resources.
Its specific objectives among others are to mobilise additional financial resources for MMDAs, provide incentives for performance for complying with the national legal and regulatory framework and ensure a harmonized system for investment funding and capacity building support to MMDAs.
Government and other key development partners have also signed onto a letter of intent that seeks to support the facility until 2018.
A press statement issued by the German Embassy noted that the signing of the letter will also ensure that the DDR remains focused on government’s priority to deepen the decentralization process and improve the performance of all Metropolitan, Municipal and District Assemblies (MMDAs) in the discharge of their mandates.
Since 2008, the DDF has invested almost GHc 350 million to support all MMDAs for infrastructure investments aimed at improving basic services. The intervention, it said, will also help government maintain a predictable and transparent public financial transfer mechanism and help advance Ghana’s decentralisation process.
Below is the full statement from the German Embassy
On Thursday, August 14th 2014 the Minister of Local government, Hon. Julius Debrah Deputy Minister of Finance Hon. Mr. Cassiel Ato Forson and the key development partners in decentralisation, namely Canada, Denmark, France, Germany, and Switzerland (SECO) signed a Letter of Intent that sets the next five years of support to the District Development Facility (DDF) until 2018.
The signing of this Letter of Intent renews an established partnership between development partners and the Government of Ghana. It will also ensure that DDF remains focused on the Government’s priority to deepen the decentralization process and to improve the performance of all Metropolitan, Municipal and District Assemblies (MMDAs) in the discharge of their mandates.
Since 2008, the DDF has invested almost GHc 350 million to support all MMDAs for infrastructure investments aimed at improving basic services. This Facility stands out as one of the main sources of predictable and transparent financing for local governments in Ghana; more than 3,570 basic infrastructure projects, including schools, health centres, market stalls, and bore holes have been completed across the country through DDF financing.
At today’s signing ceremony more than US$ 230.2 million has been committed to support DDF investments until 2018. This includes an annual Government of Ghana contribution of US$20 million until 2018. A total US$ 60.7 million was committed for 2014 budget releases, based on the 2012 performance year.
This remarkable financial and political commitment shows that the DDF remains a top priority for Government and Development Partners. The shared commitment to advancing decentralised service delivery objectives for the benefit of all Ghanaians is now matched by an equally shared commitment to build on DDF successes for the coming years.
This will help the Government of Ghana maintain a predictable and transparent public financial transfer mechanism, considered a key enabler to help advance Ghana’s ambitious decentralisation process.
Source: Citifmonline.com
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