The World Bank Country Office says it will be cutting down on the number of projects it undertakes in Ghana to focus more on larger projects that will achieve bigger impacts.
The Bank’s Country Director Pierre Laporte speaking at the commencement of stakeholder consultations with other development partners said the World Bank is seeking to develop a new strategy for its relations with Ghana.
According to him, the new strategy which should come to effect in July 2020, is expected to among others see a reduction in the sheer number of development projects the bank executes or supports in favour of projects that are billed to have wider impacts.
“Based on the consultations we are going to have, we will now develop our areas of focus. Based on this, we will develop a set of projects and analytical work for our interventions over the next six years. This is a critical exercise for the World Bank and the country. It is a strategic exercise because we want to make sure we hit the right places in our interventions.
One of the things that the bank is doing is to be selective. Gone are the days when we do 30 to 40 projects in our strategy for 4 years. We are now going to do fewer projects, bigger projects and more impactful projects,” he stated.
Mr. Laporte stated that the Bank’s new strategy will be aligned with the government’s Ghana Beyond Aid agenda which seeks to build the capacity of the private to enhance their role in economic growth.