By Maxwell Awumah
Ho, Nov 29, GNA-The Board of Directors of the African Development Bank Group has approved Ghana’s Country Strategy Paper (CSP) for the 2024-2029 period.
The main aim of the CSP signed 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, according to its release.
Under its priority, the Bank would focus on agriculture, energy, and social development. It would 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, would aim to boost resilience and foster inclusive growth. The Bank would 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 would 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.
Eyerusalem Fasika, the African Development Bank’s Country Manager for Ghana said, “The Country Strategy Paper will adopt innovative methods to accelerate Agri-Industrial transformation and increase the Bank’s support for the private sector.”
She added “we will instigate a transformative initiative to support entrepreneurship, e-skills development and job creation in Ghana.”
The Bank would mainstream cross-cutting issues and prioritise 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.
The African Development Bank Group’s active portfolio in Ghana comprised 23 projects, featuring total commitments of US$850 million as of October 31, this year.
GNA