World Bank approves eigth poverty reduction support to Ghana
The Board of Executive Directors of the World Bank on January 26, 2012 approved the eighth poverty reduction support grant of $100 million for Ghana.
According to the bank in a statement, this facility was processed within the harmonized Multi Donor Budget Support (MDBS) framework.
TheWorld Bank said the eighth poverty reduction support grant of $100 million for Ghana is a continuing and deepening efforts initiated since 2009.
This is to restore budgetary discipline and financial stability, foster public sector reform and strengthen sustainability in the energy sector, protecting the poor and developing the oil and gas institutional framework.
The money is also to support the implementation of the Ghana Shared Growth and Development Agenda (GSGDA) which succeeded the second Growth and Poverty Reduction Strategy.
The GSGDA emphasizes the need for macroeconomic stabilization, greater public sector efficiency and executive transparency and accountability to provide the adequate setting for the reduction of poverty and socio-economic inequalities through agricultural, private sector, infrastructure and human resource development.
According to the Minister of Finance and Economic Planning Kwabena Dufour, government has taken appropriate measures to enhance fiscal discipline and stabilize the economy in pursuit of the country development agenda.
By: e.tv Ghana
Accra, May 17, 2012
Government’s management of revenue generated from the country’s oil and gas resources will today come under intense scrutiny ... 