Audio By Carbonatix
The World Bank has reiterated an earlier promise that Ghana will continue to enjoy its assistance despite attaining middle income status.
Ghana last month statistically joined the league of middle income countries following a rebasing of the economy.
The rebasing by the Ghana Statistical Service shot up the GDP from 25 billion Ghana cedis to 44 billion. Donor countries have usually scaled back assistance to middle income countries.
The World Bank Country Director Ishac Diwan told Joy Business that although the bank will shift its focus for Ghana, the funds will continue to flow at least for a while longer.
“We at the World Bank work with countries that are poorer than Ghana and those that are richer than Ghana so we want to adjust as we go along to more sophisticated products that are demanded by middle income countries,” he explained.
He said the Bank will now be providing Ghana with products that meet Ghana’s peculiar needs.
He however added that the country will have to be eventually weaned-off development assistance.
Source: Joy Business/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Keta government hospital at 100: Preserving a century of service, protecting a legacy for future generations
21 minutes -
Okyenhene lauds Garden City University leadership, urges focus on education and human capital
24 minutes -
Morning Glory Montessori Child Development Centre launches 30th anniversary celebration with year-long programme
30 minutes -
GES summons teacher unions for emergency talks over controversial staff data collection exercise
44 minutes -
Award schemes and matters arising : The great Ghanaian illusion we have condoned for generationsÂ
49 minutes -
University of Ghana Vice-Chancellor urges inclusion of African languages in AI development
59 minutes -
Warner Bros $111bn sale to Paramount approved by US Justice Department
1 hour -
Hajia Adama Musah, mother of former NPA CEO Mustapha Abdul-Hamid, passes away
1 hour -
Partey’s visa denial will not break our spirit – Kofi Adams tells detractors
2 hours -
Shatta Wale launches GH¢100 SM Gold Card membership programme
2 hours -
Thomas Partey has been given US visa and presently in the US – Kofi Adams
3 hours -
Kofi Adams slams FIFA over Partey visa refusal response
4 hours -
Thomas Partey’s Canada visa denial unfair, overreaction and wrong – Kofi Adams
4 hours -
FIFA issues disclaimer after Canada denies Thomas Partey entry
4 hours -
This Saturday on Prime Insight: Wontumi plea deal, Sedina extradition and Mahama ratings
5 hours