With Ghana positioned as a primary focus for development funding and strategic partnerships, the World Bank has reaffirmed its commitment to promoting economic growth in Africa.
World Bank Vice President for West and Central Africa Ousmane Diagana emphasized the organization’s commitment to assisting African countries in overcoming obstacles to sustainable growth.
Speaking on January 8, 2025, in Accra, during a high-level delegation meeting with President John Mahama, Diagana emphasized a fresh strategy under the new World Bank leadership.
Diagana described how the priorities changed once Ajay Banga was named president of the World Bank. Before being a “larger bank,” we now prioritize being a “better bank,” he stated.
To promote sustainable development, he emphasized the significance of ownership, collaboration, and enhancing financial aid with international expertise.
As a worldwide organization, our interactions with different nations have prepared us to offer specialized assistance.
He went on to say, “This entails tackling issues like mobilizing domestic resources and making sure finance structures are optimized for economic growth.”
Diagana highlighted Ghana’s need to diversify its resources, pointing out that the nation faced issues akin to those in Kenya and Senegal.
“We are pleased to contribute our experience to the discussions with Ghana, guaranteeing the strengthening of the local financial organization,” he stated.
He also discussed the potential and difficulties of Ghana’s cocoa industry, which is a vital component of the country’s economy.
“Our Country Climate and Development Report has highlighted agricultural prospects, especially in the cocoa sector. The goal of our suggestions and ongoing initiatives is to solve the sector’s problems and realize its full potential,” Diagana said.
The discussion emphasized the World Bank’s emphasis on combining financial aid with knowledge to make sure Ghana gains from the organization’s extensive international experience.
This cooperative strategy seeks to empower the nation to realize its economic potential while addressing systemic issues.
The World Bank’s commitment shows hope for stronger collaborations and significant development initiatives in vital areas like resource mobilization and agriculture as Ghana begins its next phase under President Mahama’s direction.
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