Ghana - African Development Bank's 2024-2029 Country Strategy Paper for Ghana Prioritises Support for Industrialisation and Sustainable Transport Infrastructure

28 November 2024
Content from a Premium Partner
African Development Bank (Abidjan)
announcement

The main aim of the African Development Bank Group Country Strategy Paper (CSP) 2024-2029 for Ghana, approved by the Board of Directors on 6 November 2024, is to build a resilient and inclusive economy through private sector-led industrialisation. The CSP has set two priorities: industrialisation through private sector development and a sustainable transport infrastructure to foster regional integration and trade.

Under its first priority, the Bank will focus on agriculture, energy, and social development. It will help the government enhance skills training, speed up industrialization, and build climate resilience in agriculture through value chains and economic transformation zones. Investments, especially in northern Ghana, will aim to boost resilience and foster inclusive growth. The Bank will also use innovative financing to support agricultural entrepreneurship, improve energy supply, and strengthen technical skills.

As regards the second priority area, the Bank's operations will specifically focus on supporting Ghana in the development and maintenance of high-quality, sustainable, and climate-proof road infrastructure to improve links between production centres and national and regional markets.

"The Country Strategy Paper will adopt innovative methods to accelerate agri-industrial transformation and increase the Bank's support for the private sector," said Eyerusalem Fasika, the African Development Bank's Country Manager for Ghana. She added "we will instigate a transformative initiative to support entrepreneurship, e-skills development and job creation in Ghana."

The Bank will mainstream crosscutting issues and prioritize integrated solutions that include agricultural and energy components to boost climate-smart agricultural production, strengthen value chains and advocate for the adoption of resilient technologies for agricultural transformation in its operations.

As of 31 October 2024, the African Development Bank Group's active portfolio in Ghana comprised 23 projects, featuring total commitments of US$850 million.

Read the original article on African Development Bank (AfDB).

Tagged:
Copyright © 2024 African Development Bank. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 500 reports a day from more than 100 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.