world bank Archives - Page 3 of 6

18 Jul

Optimize Intra-African Trade To Address Economic Challenges – World Bank To African Nations

wontumionlineBusinessworld bank

Managing Director of Operations at World Bank, Anna Bjerde, has called on African nations to optimize intra-African trade as part of efforts to address the continent’s economic challenges. She opines that the continent has over the years not fully tapped into the regional trade opportunity and therefore requires more work in boosting intra-Africa trade facilitation. Speaking with journalists in Accra during her official visit to Ghana, Anna Bjerde urged both the public and private sector stakeholders to improve their resolve towards digitization which is a driving force for many countries. “The regional economic trade opportunities across countries in Africa are…

18 Jul

World Bank Supports Energy Sector Amid Economic Challenges

wontumionlineBusinessAnna Bjerde, energy sector, world bank

The World Bank has pledged ongoing support to address the country’s deteriorating energy sector, particularly the power sub-sector where huge losses are a recurring theme. Anna Bjerde, the World Bank’s Managing Director for Operations, during a visit to Accra, stressed the need for comprehensive measures to prevent further losses and ensure a consistent electricity supply, if the country is to recover from the ongoing economic difficulties it faces. She explained that the bank sees an efficient energy sector as key to economic recovery, providing much-needed electricity to power industries and invigorating economic activity. Currently, the energy sector’s financial performance is…

18 Jul

We Are On Course For First Successful Review Of IMF Programme In November 2023 – Ofori-Atta

wontumionlineBusinessbilateral creditors, imf, Ken Ofori Atta, world bank

Finance Minister, Ken Ofori-Atta, has indicated that the country is on course for the successful completion of its first review of the International Monetary Fund (IMF) Programme in November 2023 and the subsequent disbursement of an additional $600 million. According to him, Ghana will finanlise a Memorandum of Understanding with its official bilateral creditors before the first review of the IMF Programme is completed in November 2023. Disclosing this when the World Bank Managing Director for Operations, Anna Bjerde paid a courtesy call on him, Mr. Ofori-Atta, said Ghana is complying with all the conditions stipulated by the programme. “We…

11 Jul

I Persuaded World Bank To Inject $200m Into My Tree Crop Vision – Afriyie Akoto

wontumionlineNewsAfriyie Akoto, Crop Vision, world bank

A flagbearer hopeful of the New Patriotic Party (NPP), Dr. Owusu Afriyie Akoto, has said that he personally approached the World Bank to provide funding to support the Tree Crop Development Authority (TCDA) knowing the potential of its revenue base and how it could change the economic fortunes of Ghana. According to him, he embarked on that move because of the slow pace at which the government was disbursing the seed money of US$5million every year for the first three years of the establishment of Tree Crop Development Authority (TCDA), making it US$15million. As at the first three years of…

11 Jul

World Bank Managing Director Of Operations Visits Ghana On July 12

wontumionlineBusinessAnna Bjerde, world bank

The Managing Director of Operations at the World Bank Group, Anna Bjerde, will make her first official visit to Ghana from Wednesday, July 12 to July 15, 2023. The visit would become Anna Bjerde’s maiden one following her appointment to the position on April 3, 2023. During her stay in Ghana, she will be accompanied by the World Bank Vice President for Western and Central Africa, Ousmane Diagana. Anna Bjerde and her delegation, will during the period, pay a courtesy call to President Nana Addo Dankwa Akufo-Addo. She will also hold high-level discussions with government officials including the Vice President, Dr.…

07 Jun

Shut Up Because You Have No Defense About The Review And Renegotiation- Philip Twum Yeboah to NDC

wontumionlineFeatured, News, TrendingMovement In The Morning, Paul Twum Yeboah, world bank

New Juaben North constituency parliamentary hopeful, Paul Twum Yeboah, has sent a stern warning to the National Democratic Congress, to be silent regarding the review to Ghanaians by the world bank. In an interview with Kwaku Dawuro, on Movement In The Morning, on Movement TV/Wontumi radio, Paul Yeboah stated that Ghana's economy under the leadership of John Mahama and NDC was nothing to write home about, hence their irrelevant comment on world bank's request for an economic review and reform. ''The truth of the matter is that Côte d'Ivoire had the same issue and the rate we were given was…

05 Jun

NDC Wants To Divert Attention From The World Bank’s Expose On Mahama- Paul Opoku

wontumionlineFeatured, News, TrendingExpose, Mahama, Paul Opoku, world bank

A Communication team member of the new Patriotic Party (NPP), Paul Opoku has rubbished claims by the NDC which seeks to suggest that the government is only interest in constructing good roads, whenever there's a by-election. He said that there was no need to give credence to such allegations, as they hold no water and advised Ghanaians to treat it with a pinch of salt. Speaking on Movement In The Morning Show on Movement TV/ Wontumi Radio, he told Kwaku Dawuro that the NDC had adopted such strategy to divert attention after the World Bank had said that the Power…

02 Jun

Funding For Social Intervention Programmes Could Be Cut If Reforms Are Not Implemented – World Bank Country Director

wontumionlineBusinessimf, Pierre Laporte, world bank

The World Bank Country Director Pierre Laporte has indicated that the bank could be forced to cut or review funding for some of government’s social intervention programmes. He stated that the bank can take such measures if proposed reforms are not taken on board as part of the ongoing International Monetary Fund (IMF) programme review of Ghana’s policies. Mr. Laporte explained that funds meant for country specific cannot be returned to the World Bank. “We will look at the option of re-assigning the funds to another project in Ghana. At the country office, we don’t send monies back to Washington DC…

02 Jun

World Bank: Ghana Likely To Receive First Tranche Of $300 Million By September If … – Frank Laporte

wontumionlineBusinessfrank laporte, world bank

World Bank Country Director to Ghana, Pierre Frank Laporte, says Ghana is likely to receive the first tranche of $300million from the World Bank if the two are able to finally reach an agreement on the conditionality. According to him, the government needs to present a strong reform package before the World Bank will release the $300 million facility which is expected to serve as budget support. The $300 million is the first tranche of a $1.1 billion facility the World Bank has extended to Ghana over a four-year to support the country’s budget while it’s under the IMF programme.…

29 May

World Bank Allocates US$150 Million To Ghana For Enhancing Flood Control In Odaw Basin

wontumionlineNewsworld bank

The World Bank has disbursed a sum of US$150 million to the Ghanaian government as additional funding for the purpose of bolstering flood resilience in the Odaw River Basin located in the Greater Accra Region. The loan will be utilized to support the Greater Accra Resilient and Integrated Development (GARID) Project, which aims at enhancing flood risk management and solid waste disposal systems for over 2.5 million individuals residing in the Odaw River Basin. Pierre Laporte, the World Bank's country director for Ghana, Liberia, and Sierra Leone, expressed the bank's satisfaction in assisting Ghana during these challenging macroeconomic times and…