World Bank disburses US$1.12bn in ten years

The World Bank has, in the last nine years, disbursed US$1.12 billion (65.9) to Ghana, out of a total US$1.7 billion earmarked for some 24 projects.

The projects are being carried out in sectors like energy, health, education, water, agriculture and fisheries, transport and ICT, public services, social protection, environment, natural resource and climate change.

The projects are at various stages of completion, with the earliest one being a US$220 million Energy Development and Access Project, approved by the bank’s board in 2007 and scheduled to end this year.

Henry Kerali, World Bank Country Director for Ghana, Liberia and Serra Leone, told the B&FT at the bank’s Country Portfolio Performance Review (CPPR), that: “We are satisfied with the outcome but there are still challenges that remain especially in compensation of land owners of the affected people and also, a sector like sanitation, the construction of the toilets has not moved faster.”

Beatrix Allah-Mensah, Senior Operations Officer at the World Bank highlighted some of the challenges that have led to the delay in the smooth implementation of the projects.

“One of the challenges include the non-adherence to approved plans which led to delays in achieving the project results.

Another challenge is the length of time it takes for approving authorities to clear procurement document which resulted in 87 percent of the portfolio post reviewed, meaning 87 percent of the funds were locked for this reason,” she said.

She further stated that monitoring, supervision and critical evaluation of some of the contracts were inefficient and ineffective, advising that projects should endeavour to adhere to key performance indicators.

A Deputy Minister-designate for Finance, Charles Adu Boahen, reiterated government’s commitment to create prosperity and equal opportunity for all, thereby calling on all stakeholders of the various projects to play their role to help bring them to completion.

“The current and future projects are special vehicles through which government’s vision of creating prosperity and equal opportunity would be achieved. We, therefore, entreat all implementing agencies to ensure speedy execution of projects without compromising results,” Mr. Boahen said.

He further called for the judicious use of funds given by donor agencies for the greater good.

“I would like to remind colleagues that donor funds, be it loans or grants, are public funds and should be managed in accordance with the new Public Financial Management Law and respective donor guidelines.

Henceforth, judicious use of project funds, effective contract management, value for money, transparent procurement and timely implementation of projects, should be the hallmark,” he added.