IFC to help Ghana align resources to priority areas under Ghana CARES

Finance Minister Ken Ofori Atta Nyhutygghb Ken Ofori Atta - Finance Minister Ghana

Tue, 8 Jun 2021 Source: www.ghanaweb.com

•Ghana and IFC are expected to deliberate on priority areas under the Ghana CARES programme

•The programme was launched in 2020 to mitigate the negative effects of COVID-19

•Minister for Finance, Ken Ofori-Atta will lead the government team

International Finance Corporation (IFC) has expressed commitments to help Ghana strategize on focusing the GH¢100 billion Ghana CARES programme on critical areas.

Ghana Coronavirus Alleviation and Revitalization of Enterprises Support (CARES) Obaatanpa Programme was launched by the government of Ghana to mitigate the negative impact of the COVID-19 pandemic on the economy.

The Government of Ghana and the International Finance Corporation (IFC) is expected to hold a two-day retreat to strategize on how to align IFC’s medium-term strategy to the priority areas.

The workshop to be held from 9th to 10th June will among others, discuss government’s strategic plan for private sector development and unlocking long-term growth capital to support Ghanaian Micro.

IFC’s Vice President for Middle East and Africa, Sérgio Pimenta, will lead the IFC team, with the Minister for Finance, Hon. Ken Ofori-Atta leading the Government team.

Some of the critical areas for the deep-dive sessions include Agriculture and Agri-business, affordable housing, infrastructure financing and development, Entrepreneurship, manufacturing, and digitalization.

The Ghana CARES (Obaatan pa) programme is sequenced in two phases: a Stabilization Phase that is running from July to the end of the year (2020); and a medium-term Revitalization Phase from 2021-2023.

The first phase of the programme builds on the actions already taken by the government under the Coronavirus Alleviation Programme, including stabilization of the economy, ensuring food security, support businesses and workers, strengthening the health system and passage of legislation to facilitate quick economic recovery.

Below is the full press statement;

Source: www.ghanaweb.com
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