April 23, 2024
The solution really lies with Ghana, Ghana and its people. We will be there with whatever we can do to support the new thinking to contribute to the development and to provide financing", Pierre Laporte reiterated

The World Bank, through its Directorate in Ghana, has advised the government of Ghana to work together with its citizens to address the pressing economic challenges.

Speaking at the re-launch of the World Bank/IMF parliamentary Network on Friday, October 7, 2022, at the World Bank Ghana Office in Accra, the country director, Pierre Laporte stressed that his outfit can only contribute a small part to helping the situation and that much of the work continues to rest on government.

“Today, we bring approximately $500 million annually in support of various sectors including roads, energy, water, health, education and skills, governance, name it, to improve the business environment. But in the end, we are only part of the solution.

“The solution really lies with Ghana, Ghana and its people. We will be there with whatever we can do to support the new thinking to contribute to the development and to provide financing”, Pierre Laporte reiterated.

Explaining further, Pierre added, “high fiscal deficit and increasing public debt have elevated Ghana’s country risk, limited foreign direct investments in non-commodity sectors, and increased the cost of finance for many private businesses. But despite these challenges, I am convinced that Ghana can sustain its lower middle-income country. The World Bank Group will contribute to supporting that process. I believe the World Bank has played a significant and positive role in Ghana.”

The Parliamentary Network on the World Bank and IMF (PN) is the primary parliamentary interlocutor of the World Bank Group. It provides a platform for MPs from World Bank and IMF member countries to advocate for increased accountability and transparency in development cooperation. The Bank also partners with a number of other parliamentary organizations and regional parliamentary bodies such as the European Parliament and the Pan-African Parliament to foster dialogue, information-sharing, and development advocacy.

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