The African Development Bank (AfDB) was working to move Ghana towards the commercial window of the bank, as a result of the country’s rapid economic growth and macroeconomic stabilization, according to AfDB President Akinwumi Adesina.
What that means is that Ghana will be able to access a yearly 500 million U.S. dollars over a three-year period for developmental programs.
Speaking during an interaction with Ghanaian President Nana Addo Dankwa Akufo-Addo in Accra on Wednesday as part of his three-day official visit to Ghana, Adesina assured the Ghanaian leader that the bank would provide the maximum amount support for his government to succeed.
“You have put together an excellent team, a first rate team, and I have every confidence that it will succeed,” he said while commending the significant strides chalked in the management of Ghana’s economy by the 7-month-old administration.
Adesina also praised President Akufo-Addo for the clarity of his vision and direction in which the country’s economy was headed which had enhanced Ghana’s image and its standing with the global financial community.
He said the bank had received a request for 1.2 billion dollars from Ghana’s Minister of Food and Agriculture and from the Cocoa and Coffee Board of Cote d’Ivoire, and would be looking at building warehouses to store cocoa and would not have to sell immediately after harvest.
The AfDB currently has investments of 950 million dollars in different sectors in Ghana, including infrastructure, energy, agriculture, and the private sector. Enditem