The World Bank has dismissed reports suggesting it has suspended funding for two major development projects in Ghana, worth a combined US$400 million, due to the alleged dismissal of government staff.
In a statement to the Ghana News Agency (GNA) on Thursday, April 4, 2025, Mr. Kennedy Fosu, the World Bank’s External Affairs Officer in Ghana, stated clearly:
No World Bank financed portfolio in Ghana are currently suspended.”
The Projects in Focus
The funding in question relates to two key development initiatives:
- US$200 million Tree Crops Diversification Project (TCDP)
- US$200 million Ghana Digital Acceleration Project (GDAP)
1. Tree Crops Diversification Project (TCDP)
Launched in November 2024, the Tree Crops Diversification Project is a six-year initiative (2023–2029) aimed at boosting the economic, social, and climate resilience of Ghana’s tree crop value chains.
Key Goals:
- Improve productivity and long-term sustainability of crops like cocoa, cashew, coconut, and rubber
- Address systemic challenges affecting Ghana’s agricultural sector
Expected Impact:
- Direct beneficiaries:
- 12,800 cocoa farmers
- 39,975 cashew, coconut, and rubber growers and their households
- 40% of beneficiaries will be women
- 20,000 new jobs to be created in downstream value addition through private sector investment
- Promote post-harvest management, value addition, and market access
2. Ghana Digital Acceleration Project (GDAP)
The Ghana Digital Acceleration Project, which runs from 2022 to 2028, aims to accelerate Ghana’s digital transformation, supporting the government’s broader digitisation agenda.
Objectives:
- Expand broadband access, particularly in underserved areas
- Enhance the efficiency and user experience of selected digital public services
- Strengthen the digital innovation ecosystem for entrepreneurship and job creation
This initiative supports Ghana’s ambition to build a digitally inclusive society that promotes innovation, economic growth, and better public service delivery.
World Bank Clarifies Its Position
The World Bank’s rebuttal comes in response to media speculation and public concern over the fate of the two projects. By clarifying that no project has been suspended, the institution reaffirmed its continued commitment to Ghana’s development agenda.
We remain engaged with the Government of Ghana on the implementation of these vital projects,” Mr. Fosu added.
Source: The Chronicle