World Bank Lauds Gov't

The World Bank is happy with the level of development that has taken place in Ghana. It has, however, urged government to do more to bridge the gap between the rich and the poor.

This came to light on Monday when officials of the Bank, including its Chief Financial Officer, Mr. Vicenzio La Via inspected a number of development projects, being undertaken by the Gateway Project, under a Government of Ghana programme, to support its frontline agencies in the promotion of trade and investments in the country.

The Manager of the Gateway Project, Mr. Kwaku Duah, led a group of Inspectors from the Bank to examine the projects.

Mr. Vicenzio La Via expressed joy at the level of development made by the Gateway Project in transforming the economy into what he described as a vibrant one.

He therefore urged the Government of Ghana not to loose focus but to concentrate on doing its good works towards a more vibrant economy.

Vincenzo La Via, World Bank Group Chief Financial Officer, together with Minister of Ports, Harbours and Railways, Professor Christopher Ameyaw Ekumfi, and other dignitaries inspected the projects (some of which are currently ongoing) at the Tema port and its environs.

A three-kilometre road with two bridges currently under construction was inspected at the port. Several manufacturing Industries located inside the Free Zones Enclave, now called the Multi-Purpose Industrial Park (MPIP), were also inspected.

The Gateway Project is an initiative by the Government of Ghana to develop an industrial estate close to the Tema port to provide convenient environment for manufacturing Industries listed under the Free Zones enclave. It is also meant to attract Foreign Direct Investment (FDI) and to reduce the cost of doing business in the country.

Part of the money earmarked for the Gateway Project has been used in supporting the Customs, Excise and Preventive Services (CEPS) in setting up the Ghana Community Network (GCNet) project. Part has also been invested in infrastructural development at the port to provide convenient services for the public in the clearance of goods.

Thirty-five manufacturing companies are currently operating under the MPIP with an additional fifty-five manufacturing companies expected to start operations soon. About $15million has been spent so far on the project.

Currently, about eighty percent of major manufacturing Industries are located in Accra and Tema, a trend Prof. Ekumfi believes must change to benefit all parts of the country.

"There is the need to secure funds for the development of Industrial estates in other parts of the country in order to spread development through out the country and also correct the current situation where about eighty percent of major manufacturing industries are located in the Accra-Tema area", he noted.

According to him, the development of Industrial estates in Takoradi and Kumasi, the Boankra Inland port and the modernisation and expansion of the railway system would optimise the benefits to be derived from the Gateway Project.

He therefore called on the World Bank representative to assist the country in obtaining International Bank for Reconstruction and Development (IBRD) loans for development projects in the aforementioned parts of the country, which to him, requires significant funding from external sources.