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07.11.2005 Business & Finance

Ghana To Seek $1.2 From World Bank

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Ghana is to seek new funds totalling $1.2 billion from both multi-national and bilateral institutions and bodies to accelerate the country's development effort.

In this regard, Ghana and the World Bank will co-host the 12th Consultative Group Meeting in Accra, today, to lay the basis for a new Ghanaian partnership strategy.

The two-day meeting which is expected to be opened by the President, Mr John Agyekum Kufuor, will be attended by representatives of the World Bank, the International Monetary Fund (IMF), the European Union, the United Nations Development Programme, the United States Agency for International Development and other international donor agencies, organizations and bodies.

The theme of this year's meeting is “2006, Growth Agenda”- Investing in People, Investing in Jobs.”

The focus of the funds will be geared towards agriculture, private sector development, energy, infrastructure such as roads, health, education, water and sanitation, public sector management, public sector reforms, decentralization and good governance.

The last Consultative Group meeting was held in April 2002, at which the Government raised nearly $1 billion to support the economic development programme of the country.

Since 2002, the country has experienced considerable progress in its macro-economic programme, increased economic growth rate and reforms in many sectors of the national economy.

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