Gov't needs $7.4 b to reduce poverty - Nduom

Government will require over seven billion dollars in the next three years to implement plans to reduce the high incidence of poverty in the country, Economic Planning and Regional Co-operation Minister, Dr Paa Kwesi Nduom said on Thursday.

Addressing a stakeholders' forum on the final Ghana Poverty Reduction Strategy (GPRS) in Accra, Dr Ndoum said the funds would be directed at key areas to ensure that government achieved its target to reduce poverty from 39 per cent to 32 per cent at the close of 2004.

The forum was to seek stakeholders' consensus and perception of the final GPRS. The Minister said an outlay of more than 4.5 billion dollars of the total amount would be used in building vitally needed human capacity to enhance expertise and to also improve on basic services in the country.

Over one billion dollars each is earmarked for important areas of macro-economic stability and production and gainful employment over the three-year period. An amount of 145 million dollars would go into programmes to assist the vulnerable in the society.

Dr Nduom said the activities would be financed from funds derived from on-going projects, government generated revenue, savings from the Highly Indebted Poor Countries (HIPC) initiative and other debt relief packages and assistance from the private sector and non-governmental organisations.