Presentation on theme: " AfDB is a regional multilateral Development finance institution comprised of African Development Bank (ADB), the African Development Fund (ADF) and."— Presentation transcript:
AfDB is a regional multilateral Development finance institution comprised of African Development Bank (ADB), the African Development Fund (ADF) and the Nigerian Trust Fund (NTF). The Bank Group was established in 1963 to contribute to the economic and social development of African Countries. Members of the Bank include, the 53 African States (RMC) and 25 non-African Countries in Asia, Europe, North and South America
Medium-Term Strategy (2008–2012) focuses its operations on the four core priority areas: ◦ infrastructure development; ◦ private sector development; ◦ governance; ◦ higher education, ◦ technology and vocational training. crosscutting themes of gender, environment, climate change, and knowledge management
4 A Decade of Progress Interrupted A decade of progress in Africa has been interrupted by the global financial and economic crisis Deteriorating terms of trade Collapsing demand for exports Reduced capital flows Lower remittances Decline in tourism Crisis leads to several external shocks
6 Bank Group scaled up assistance and advocacy role for Africa US$ 1.5 billion Emergency Liquidity Facility (ELF) US$ 1.0 billion Trade Finance Initiative (TFI) Division of labor between Development Financial Institutions reinforced Global Trade Liquidity Program concluded Division of labor between Development Financial Institutions reinforced Global Trade Liquidity Program concluded ADF resources frontloaded and accelerated transfers Committee of Ten (C-10) African Ministers of Finance and Central Bank Governors created Approvals increased by 129% and disbursements increased by 119% in 2009
7 2010: UA 4.10 b for139 approvals 2009: UA b for181 approvals 2008: UA b for133 approvals 2010: UA 4.10 b for139 approvals 2009: UA b for181 approvals 2008: UA b for133 approvals In UA million Massive increase enabled Bank Group to effectively respond to the crisis in 2009 Lender of choice: increased operations in line with countercyclical role Approvals (including HIPC) and disbursements
Ghana’s democratic process has made impressive gains in the last decade. Ghana’s economy has been resilient in spite of the global crisis, and continued to grow, at an average of 6.3% p.a. since Ghana is currently a lower MIC country, with 2009 per capita income estimated at US$ 1,105.6
Ghana has achieved good progress in the MDGs on income poverty, hunger, primary school completion, gender parity at school and access to water However the MDGs for environmental sanitation, child and maternal mortality is off track Key challenges for development include: ◦ Modernization of the economy especially agriculture which employs about 60% of population ◦ Another key challenge is inadequate infrastructure - electricity and transport ◦ The transition to petroleum economy
The thematic areas of the strategy include: Ensuring and sustaining macroeconomic stability Enhanced competitiveness of Ghana’s private sector Accelerated agriculture modernization and natural resource management Oil and Gas development Infrastructure, energy and human settlement Human development, employment and productivity and Transparent and Accountable Governance
The Bank Group started operations in Ghana in To date, the Bank Group has provided loans and grants to Ghana valued at a total of US $ billion.
Bank Group's strategy in Ghana is based on the following pillars: (i) Improving the Investment Environment; and (ii) Promoting Pro-poor, Pro- gender Equity Policies. A new Country Strategy Paper for is under preparation; the strategy will be underpinned by the Ghana’s new development strategy the GSGDA The Bank’s regional strategy for West Africa is focuses on analytical, operational, and partnership activities in support of regional integration and development in West Africa
The Banks projects support’s Ghana’s strategy for poverty reduction, articulated in the GPRS II, GSGDA and the Food and Agriculture Sector Development Policy (FASDEP), which emphasizes accelerated economic growth, through agricultural modernization and development The Bank’s agriculture portfolio has 10 ongoing projects covering export crops promotion, rice production, Livestock Development Project, Eradication of Tsetse flies and Trypanosomiasis, Afram Plains District Agriculture Development Project and Forestry Cross cutting issues: gender, livelihood empowerment, health issues; HIV and guinea worm eradication.
Key objectives of the Bank funded programs are to contribute towards improving living standards of the rural population, providing food security, generation of rural employment, increase incomes of smallholder farmers, enhancing food security, increasing export earnings of non-traditional agricultural products, especially pineapple, papaya, chilli pepper and the egg plant amongst others The projects are located in 7 out of the10 regions in Ghana and across 80 districts. 4 of the projects are multinational and are implemented in a number of countries, Togo, Benin, Nigeria, Burkina Faso promoting regional integration
Development Aid has provided an important source of financing for Ghana's development. Aid accounts for 10% of GDP in Donor assistance is usually in the form of Budget support, Sector-Wide Approach Programs (SWAPS), Basket funding, project funding though grants and concessional loans DPs provide over US $650 million annually Multi-Donor Budget support contributes 30% of annual aid flows to Ghana, 12 DP’s currently provide aid though this channel.
Sector Dialogue in the country plays an important role in communication between DPs and GOG. Representatives of donors and Ghanaian authorities have formed 17 sector-specific working groups to facilitate better coordination of activities. A spokesperson for Ghana’s government and one for the donor community co-chair these sector groups. Donors’ spokespersons are newly elected every year. Sector working groups help coordinate donors, and are crucial for successful harmonisation. They help to make plans compatible, and they raise joint demands to the Ghanaian partners, both private sector and GOG ministries.