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
-
Farmerline, others support farmers in Weta and Avalavi following flood devastations
28 minutes -
Yara Ghana introduces two crop-Specific fertiliser solutions to improve farmers’ yields
29 minutes -
Asiedu Nketia’s lead fuelled by NPP support; Ato Forson holds edge among floating voters — Mussa Dankwah
32 minutes -
Chief of Staff urges lifelong learning after earning doctorate
33 minutes -
First-time contenders Enyan Denkyira SHTS snatches final Central region ticket to qualify for nationals
41 minutes -
Cape Verde’s Lopes Cabral’s goal wins Goal of the Tournament at 2026 World Cup
49 minutes -
GWL MD inspects water plants as GH¢8.4m GoldBod rehabilitation project begins
60 minutes -
Chief of Staff credits family, mentors and Kwahu traditional leaders for successful PhD journey
1 hour -
No court sittings in Greater Accra on July 28 and 31 as Judiciary marks Supreme Court’s 150th anniversary
1 hour -
Illegal miners operate near Mpohor Fiase police station as communities plead for gov’t intervention
1 hour -
Foreign Affairs Ministry approves 623 free passport replacements for June 29 flood victims
1 hour -
Vice President urges Ghanaian diaspora to invest in value addition, help transform economy
1 hour -
NPP’s ‘future is pregnant’ slogan doesn’t scare us — NEIP CEO
1 hour -
GIADEC dismisses reports linking Ibrahim Mahama to VALCO acquisition
1 hour -
272 Ghanaians recruited into Russia-Ukraine war since 2022, about 55 dead – Ablakwa
1 hour