African Dev’t Bank’s investment in Ghana rises to $1.5b driven by infrastructure

The African Development Bank (AfDB) says its currently portolio in Ghana comprising 32 operations has a total value of $1.5 billion.

In a statement announcing that 11 Executive Directors of the Bank will visit Ghana from March 3-9, 2012, the AfDB indicated that its operations are mainly concentrated on infrastructure. The delegation will review AfDB-fund projects and programmes in the country during the visit.

By sector portfoilio, the Bank said the largest is “transport at 33%, followed by multinational projects (24%), agriculture (17%), social sector (10%), water and sanitation (10%) and power (4%).”

As at August 2011, the AfDB was running 30 projects in Ghana at a total cost of $1.08 billion.

AfDB’s investments come in the form of loans or grants to the Ghana government under the Group’s three operating constituents i.e. the African Development Bank (AfDB), African Development Fund (ADF) and the Nigeria Trust Fund (NTF) as well as special funds set up by the Group.

The AfDB disclosed that it is in the “process of finalizing a new Country Strategy Paper (2012-2016) for Ghana, scheduled to be discussed at the Board in April 2012.”

The new strategy is aligned to the government’s national development strategy – the Ghana Shared Growth and Development Agenda, the Bank said.

By Ekow Quandzie