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23.12.2005 Business & Finance

HIPC funds disburses C1,817bn cedis to MDAs

By GNA
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Kumasi, Dec. 23, GNA - A total of 1,817 billion cedis was transferred from the HIPC relief fund to the ministries, departments and agencies in 2004 as against 842 billion in 2003.

The highest proportion of the amount, which was 16.59 per cent, went to the Bank of Ghana for domestic debt payment. Mr Bruno Derry, Deputy Director in-charge of Monitoring and Evaluation at the National Development Planning Commission (NDPC) made this known in Kumasi, on Friday.

He was speaking at a review meeting to discuss the Ghana Poverty Reduction Strategy (GPRS) annual progress report for the year 2004. The meeting, which was attended by heads of Ministries, Departments and Agencies aimed at disseminating the content of the 2004 annual report, which included targets, achievements, challenges, lessons learnt and the way forward in the broad GPRS objectives of ensuring macro-economic stability, increase production and gainful employment, resource development, expanded programme to support the vulnerable and enhance good governance.

Mr Derry said the GPRS had made modest improvement in the quality of life of the people, especially those in the rural areas. He was, however, not happy that some district assemblies did not follow the guidelines for the granting of loans and their inability to recover loans granted to beneficiaries.

Mr Derry called for the improvement in the process of allocation and disbursement of HIPC funds by the Ministry of Finance to ensure transparency and proper controls.

Other officials from the NDPC who facilitated at the programme were Mr Opare Djan and Mr Jonathan Azasoo, both Senior Planning Analysts at the Commission.

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