World Bank approves $60m credit for Ghana to improve social safety nets

The World Bank last week approved a $60 million credit to Ghana to strengthen the country’s Productive Safety Net project. The funds are expected to be used to improve social safety nets and productive inclusion of the poor and vulnerable.

According to the Bank, the project will directly benefit the poorest households in all regions of Ghana.

It indicates that there will be 25,000 individuals through a productive inclusion programme; 30,000 beneficiaries through a Labor-Intensive Public Works programme (LIPW); and 350,000 households through a Livelihood Empowerment Against Poverty (LEAP) cash transfer programme.

“Beneficiaries will be selected from the poorest,” the Banks said in a press release copied to ghanabusinessnews.com.

The Bank notes further that the project directly contributes toward the goals of Ghana’s “Coordinated Programme of Economic and Social Development Policies (2017–2024)”, and the “Agenda for Jobs: Creating Prosperity and Equal Opportunity for all” (2018 – 2021).

Commenting, Henry Kerali, World Bank Country Director for Ghana, said “The project will contribute towards the Government’s objective of improving the livelihoods of poor households by harnessing investments in the Social Protection sector to support these households to better access services that promote their productivity and improve their access to jobs.” 

“By providing opportunities for extremely poor households to access productive livelihoods, this project is also fully aligned with the government’s “Ghana Beyond Aid” agenda, which puts increased emphasis on economic development and job creation,” Iffath Sharif, World Bank Social Protection and Jobs Global Practice Manager for West and Southern Africa said.

By Emmanuel K. Dogbevi