President John Dramani Mahama has held discussions with the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, on strategies to strengthen Ghana’s economy through strategic investment and international partnerships.
Mr. Diop met President Mahama at the Presidency on Wednesday, where they explored opportunities to boost economic growth, private sector investment and sustainable development in Ghana.
Ghana Seeks Investment in Commercial Agriculture
A major focus of the meeting was the expansion of commercial agriculture, particularly in key areas including cocoa, oil palm and poultry production.
The discussions also covered the government’s policy to increase local value addition by processing at least 50% of Ghana’s cocoa beans domestically. The initiative is also expected to promote the local processing of other agricultural commodities and minerals to create jobs, increase exports and strengthen Ghana’s industrial base.
Big Push Infrastructure Development
President Mahama and the IFC delegation also discussed Ghana’s infrastructure development agenda, including investments in roads, railways and aviation.
The meeting further examined ways to expand digital connectivity under the government’s Big Push Infrastructure Development programme.
Energy and education were also identified as important sectors requiring continued investment and reforms to support Ghana’s long-term economic development.
Mahama Highlights Ghana’s Economic Recovery
President Mahama, accompanied by the Chief of Staff and the Ministers for Finance, Energy and Trade, highlighted what the government described as improvements in Ghana’s economic performance following prudent economic management and fiscal discipline.
According to the President, the measures have contributed to a significant decline in inflation, a reduction in national indebtedness and the restoration of investor confidence in the Ghanaian economy.
$300 Million World Bank Financing for Senior High Schools
As part of the government’s transformative development initiatives, President Mahama announced that Ghana has secured a $300 million World Bank financing package to support efforts to permanently end the double-track system in Senior High Schools (SHSs).
The government aims to phase out the double-track system by the end of 2027, using the financing to support infrastructure and other interventions needed to expand access to secondary education.
IFC Pledges Support for Ghana
IFC Managing Director Makhtar Diop commended President Mahama’s commitment to economic reforms and efforts aimed at improving Ghana’s financial outlook.
Mr. Diop also expressed the IFC’s readiness to support Ghana’s commercial agriculture sector and broader initiatives designed to build a more resilient and sustainable economy.
The engagement highlights the potential role of international development finance and private-sector investment in supporting Ghana’s economic recovery, job creation, infrastructure development and industrial transformation.
Source: newsthemegh.com