World Bank pledges $3bn investment in Ghana’s economy to boost growth

The World Bank Group has committed to investing over $3 billion in Ghana’s economy to enhance economic growth, with a focus on agriculture, energy, education, and private sector development.

“We are working with the government and with your private sector to look at how we can support them in investment and in lending,” Paschal Donohoe, Managing Director of the World Bank Group, said on Wednesday.

Speaking in Parliament during an engagement with Bernard Ahiafor, the First Deputy Speaker of Parliament, Donohoe emphasised the Bank’s commitment to building a long-term, sustainable relationship with Ghana, citing plans to publish a report on growth and jobs, investing in agriculture, irrigation, transport, and training to create jobs.

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He said, “This is a relationship of partnership where we share the ambition that you have for your economy and for your people.”

The Managing Director highlighted the Bank’s ongoing investment in education to equip young people with future skills.

“What we want to do is to continue to engage with your government and how we can build this relationship,” Donohoe said.

Alexander Kwamena Afenyo-Markin, the Minority Leader, called for structured equal inclusion of both Minority and Majority Committee members in capacity-building initiatives.

Mahama Ayariga, the Majority Leader, welcomed the investment in agriculture and urged the private sector to take advantage of stability to expand and create jobs.