World Bank’s portfolio in Ghana totals $1.89b in four years to 2012
The total portfolio investment made by the World Bank in four years running from 2009 to 2012 amounted to $1.89 billion ($1,890,250,000), according to the bank’s data obtained by ghanabusinessnews.com.
The Bank made the investments on 24 projects during the four-year period – four in 2009, six in 2010 and seven each in 2011 and 2012.
The World Bank committed an amount of $550 million in 2009, $313.3 million in 2010, $613.15 million in 2011 and $413.8 in 2012, all on the 24 projects.
The projects approved in 2009 which the World Bank committed funds to were the Transport Sector Project for Ghana ($225 million), Ghana Natural Resource and Environmental Governance ($10 million), Economic Governance and Poverty Reduction Credit ($300 million) and 2nd additional financing for Small Towns Water Supply & Sanitation Project ($15 million).
The Bank’s 2010 projects in Ghana were the Ghana Second Agriculture Development Policy Operation ($25 million), Ghana Social Opportunities Project (88.6 million), Ghana Natural Resource and Environmental Governance ($10 million), addtional financing for the Ghana Energy Development and Access Project ($70 million), Sustainable Rural Water and Sanitation Project ($75 million) and additional financing for the e-Ghana Project ($44.7 million).
The 2011 projects were Sustainable Land and Water Management Project ($8.2 million), Poverty Reduction Support Credit ($215 million), Skills and Technology Development Project ($70 million), Oil & Gas Capacity Building Project ($38 million), Land Administration Project ($50 million), Local Government Capacity Support ($175 million) and the Third Agriculture Development Policy Operation ($57 million).
And during the year 2012, the World Bank’s $413 million committed funds covered the Ghana Commercial Agriculture Project ($100 million), Ghana Statistics Development Programme ($30 million), Fourth Agriculture Development Policy Operation ($50 million), West Africa Regional Fisheries Project ($50.3 million and another $3.5 million), Public-Private Partnership Project ($30 million), Poverty Reduction Support Grant ($100 million) and Additional Financing for Ghana Urban Water Project ($50 million).
According to the World Bank, its progress on assistance and engagement in Ghana has been “largely positive”, with notable advances in agricultural crop production, natural resources governance, land management, household electrification, ICT, primary education completion, social protection, and safe water supply.
It however noted “weaker progress” was registered in private sector development, transport, health, and public sector.
By Ekow Quandzie