AfDB President Adesina set to visit Ghana to strengthen cooperation

Adesina

The president of the African Development Bank (AfDB) Akinwumi Adesina is set to visit Ghana from August 1st -4th as part of an effort to strengthen cooperation between the country and the financial institution.

During the visit, Adesina’s will meet with Ghanaian President Nana Akufo-Addo and key cabinet ministers for discussions.

He will also have a chance to visit key projects that have been financed by the AfDB in the West African country.

AfDB’s portfolio in Ghana as at June 2017 is composed of 22 operations with an overall commitment of about $950 million.

The Bank is finalizing a new Country Strategy Paper (CSP) for Ghana for the period 2017-2021. The Strategy will support Ghana’s efforts to transform the economy through three of AfDB’s High 5s (Light Up and Power Africa, Industrialize Africa and Feed Africa). The High 5s are the five areas in which the Bank is focusing on to help accelerate Africa’s economic transformation.

The draft strategy is expected to be presented for Board consideration during the 3rd Quarter of 2017.

The Bank plays a lead role in infrastructure development in Ghana and in transportation in particular.

The transport sector is the second largest share of the country’s portfolio (26%).

Since 1981, the Bank has financed 10 road projects, 1 railway project, 4 road studies, and 1 multinational project in addition to supplementary loans totaling close to $359 million.