Accra, April 3, 2017 - The Government of Ghana and the World Bank, have met to review Ghana’s Portfolio Performance at the World Bank Group Office, Accra.
The meeting was intended to appraise the status of implementation, and especially, to demonstrate results as well as develop strategies to improve the performance of the portfolio.
Addressing the meeting, the Hon. Deputy Minister Designate for Finance, Mr. Charles Adu-Boahen said the forum provided a unique opportunity to share government’s vision as well as solicit collective action and commitment to the realization of government’s policy initiatives.
Hon Adu-Boahen who spoke on behalf of the Hon Minister for Finance, expressed government’s satisfaction at the results so far, as they were in sync with Government’s strategy to ensure social justice.
He reiterated government’s determination to create a prosperous society based on equal opportunity for all. Adding that government will strike the right balance between fiscal consolidation and growth to create a business friendly and people centered economy, which will translate into job creation and prosperity for all.
“I am pleased to note that the current disbursement rate of 23.4% as of February, 2017 is above the regional average of 23.3%,” the Deputy Minister noted.
Hon Adu-Boahen, however, said disbursement must be backed by results. In achieving this, he reminded the meeting that donor funds are public funds and should be managed in accordance with the new Public Financial Management Law and respective donor guidelines.
He said the Ministry of Finance will collaborate with implementing Agencies to ensure timely releases of funds for compensation payments, prompt release of valuation reports and the signing of performance contracts.
He pointed out that government’s commitment to achieving results should be seen in the creation of the Monitoring and Evaluation Ministry.
Present at the meeting were the World Bank Country Director, Chief Directors, Task Team Leaders, Project Coordinators and relevant stakeholders. END
Source: Public Relations Unit