GOVERNMENT SIGNS US$147.0 AGREEMENT WITH WORLD BANK

The Government of Ghana and the World Bank have signed four (4) Financing Agreements with the International Development Association (IDA) of the World Bank. The total value of the agreement is SDR 90.1 million (US$ 147m).

The projects to be financed under these agreements are the first Natural Resources and Environmental Governance Development Policy Operation’ US$20.0m; Agricultural Development Policy Operation US$25.0m, (this includes US$10.0m to rehabilitate damages caused by floads in the northern regions). The rest are the West Africa Transport and Transit Facilitation Project at US$ 80.0m and Community–Based Rural Development Project, US$ 22.0m.

The Minister of Finance and Economic Planning, Hon. Kwadwo Baah Wiredu signing on behalf of the Government said the programme seeks to ensure predictability and sustainability of the forest and wildlife sector and effective forest law enforcement.

It also aimed at improving the mining sector revenue collection, management and transparency, address social issues in forest and mining communities and integrating environmental considerations across sectors.

The programme in to will also support government’s effort to addressing the emerging oil sector issue to adopt enhanced extractive Industry Transparency Initiative (EITI++) principles, including access to resources, allocation, utilization and revenues in extractive industry.

The AgDPO, he said, aims at Supporting the government‘s enthusiastic effort to encourage agric led growth to achieve the objective s of the Ghana Poverty reduction Strategy II through the implementation of the Food and Agriculture Sector Development Policy (FASDEP II)

He also disclosed that the expected areas of focus for the AgDPO are to maintain the positive trend of export diversification, encourage non-state actor s such as farmer organizations and the private sector, to increase investments and manage assets.

The World Bank Country Director, Mr. Ishac Diwan who signed for the Bank noted that the grant facility will go a long way to improve the lives of Ghana.

Dr. Richard Anane, Minister of Roads and Transportation on his part, indicated that under the corridor road infrastructure on critical sections of the kintampo-Paga corridor would be improved, to reduce transport cost and to also improve the quality of transport service delivery. He also added that the road works component will include the construction of four major and eight minor rest stop areas and HIV/AIDS mitigation programmes for people who use the road.

The Deputy Minister of Local Government and Rural Development and Environment, Hon. Alhaji Awudu Yirimea in his brief remarks said the major contributions the community based rural development project is making towards consolidating the country‘s decentralization process, through collaborative efforts.

These includes the provision of funds for the National Development Planning Commission (NDPC) to support the roll-out of training in the use of the planning guidelines for MMDAs and providing financial assistance to the Controller and Accountant General Department in the preparation of accounting manual for MMDAs and the implementation of comprehensive district level financial management reforms to confirm with the financial administration act.

The Deputy Minister for Food and Agriculture, Hon. Anna Nyamekye in her brief remarks said the Agricultural development Policy Operation (AgDPO) is a budgetary support to the government of Ghana to support the implementation of the Food and Agricultural sector Development Policy (FASDEP)

She added that an additional amount of US$ 10.0m is earmarked for support of four areas namely the provision of seeds to farmers in the northern sector, who lost the seeds form 2007 floads and dry season gardening in northern sector of the country to provide incomes and to enhance food security.

The signing was witnessed by Officials from the Ministries of Finance and Economic Planning, Roads and Transportation, Ministry of local Government and Rural Development and Environment, the Food and Agricultural Ministry and the World Bank.

END