The Managing Director and Chief Knowledge Officer of the World Bank Group, Mr. Paschal Donohoe, has reaffirmed the bank’s commitment to strengthening its partnership with Ghana, announcing a multi-billion-dollar investment drive focused on jobs, skills, and economic growth.
Speaking during a meeting with Parliament’s leadership in Accra on Wednesday, Mr. Donohoe disclosed that the World Bank has committed over $3 billion in investments across key sectors of Ghana’s economy. The funding will target critical areas including education, transport infrastructure, and energy development. The initiative will also support both government and private sector-led growth through financing and technical assistance.
A major priority for the World Bank, Mr. Donohoe noted, was job creation, particularly for Ghana’s growing youth population.
“Our overall mission is the creation of jobs within Ghana, ensuring young people have opportunities for economic development,” he said.
He also praised the entrepreneurial drive of Ghanaian youth following visits to institutions such as the University of Ghana.
“I saw with my own eyes the potential, the energy, the entrepreneurial spirit that pulses through the people of Ghana,” he added.
Mr. Donohoe further revealed that the bank would roll out new research and policy support aimed at boosting agriculture’s role in job creation. He added that a forthcoming report on growth and jobs in Ghana would focus on irrigation systems, transport for agricultural produce, and skills training in agribusiness, with the goal of unlocking agriculture’s full employment potential.
He emphasized continued support for education at all levels, from basic to tertiary, as part of broader efforts to equip Ghana’s workforce with skills for a modern economy.
Reaffirming the bank’s long-term commitment, Mr. Donohoe indicated that it would continue exploring ways to deepen and sustain its partnership with Ghana.
The First Deputy Speaker, Mr. Bernard Ahiafor, in his remarks, expressed gratitude to the World Bank Group and the Foreign, Commonwealth and Development Office for their continued support to Parliament under the Building the Capacity of Parliament for Economic and Financial Governance Project.
The Majority Leader in Parliament, Mr. Mahama Ayariga, called for enhanced accountability and increased financial support from the World Bank to strengthen parliamentary oversight and economic governance. He expressed appreciation for the long-standing partnership and noted that Parliament was effectively utilizing support from ongoing capacity-building programmes. Mr. Ayariga also reaffirmed Parliament’s commitment to strengthening governance systems through collaboration with development partners.
The Minority Leader, Mr. Alexander Afenyo-Markin, on the other hand, called for a bold national shift towards vocational and technical training to address rising youth unemployment. He stressed that job creation must be central to economic policy and international partnerships, welcoming the World Bank’s focus on employment and skills development.
“If such initiatives come to Parliament, we are all for it,” he said.
He further emphasized the need for long-term development strategies beyond partisan politics and criticized the increasing politicization of key state institutions. Mr. Afenyo-Markin noted that collaboration among Parliament, government, and development partners was essential to building a resilient economy and securing Ghana’s future.
BY BENJAMIN ARCTON-TETTEY
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