As it finalizes a Country Strategy Paper (CSP) for Ghana for the period 2017-2021, the African Development Bank (AfDB) is seeking to strengthen cooperation with the country through a visit by AfDB President Akinwumi Adesina.
Adesina will engage with Ghanaian President Nana Akufo-Addo, key cabinet members and other development partners on the Bank’s partnership with the country as well as visit projects the Bank is financing in Ghana.
As at June 2017, its portfolio in Ghana composed of 22 operations with an overall commitment of $950, 319, 370.
The draft of AfDB’s Strategy Paper for Ghana which will support Ghana’s efforts to transform its economy through three of AfDB’s High5s; Light Up and Power Africa; Industrialize Africa; and Feed Africa, will be presented in Q3 2017.
In Ghana, AfDB is supporting road construction which extends to integrating community infrastructure development; and the airport expansion program which will help boost the country’s economy, reduce the cost of doing business and improve competitiveness.
It is also exploring the funding of two separate interventions at Takoradi Port through its private sector financing window.
The Bank plays a lead role in infrastructure development in Ghana, particularly in transportation which at 26 per cent is the second largest share of the country’s portfolio.
Since 1981, the Bank has financed 10 road projects, one railway project, four road studies, and one multinational project that have significantly improved mobility, provided access to socioeconomic opportunities for millions of people and facilitated regional integration.
In 2016, AfDB successfully closed the Fufulso-Salwa and Awoshie-Pokuase Road and Community Development Projects and begun the implementation of the Accra Urban Transport Project (AUTP) and preparation of the Eastern Corridor Project.
The Fufulso-Sawla Project received a Bank Award in May 2017 for contributing towards regional integration.
It has also provided Ghana with to supplementary loans totaling $ 358,978,620.
AfDB’s current intervention in Ghana under the Development of Skills for Industry Project is designed to address human capital development through increasing the capacity of the country to produce high caliber technical skills.
Adesina was recently feted with the $250, 000 World Food Prize for his efforts to lift up millions of Africans, especially farmers out of poverty.
He will visit Ghana between 1st and 4th August 2017.