World Bank Pledges Support For Ghana

The World Bank says it is keen on Ghana's participation in the Multi-Donor Budget Support (MDBS) project that aims at boosting the smooth implementation of the Ghana Poverty Reduction Strategy.

The World Bank Vice President For Africa, Dr Callisto Madavo said the Bank's readiness to back Ghana stems from the belief that she is fully prepared to participate in the model. Mr. Madavo was speaking at a forum dubbed Development Dialogue Series. It is on the theme: "The Ghana Poverty Reduction Strategy and Multi-Donor Budget Support: Strengthening the Links of Accountability." The forum was organised by the Ministry of Finance, Ghana Centre for Democratic Development, Centre for Policy Analysis and the World Bank Office in Ghana to share ideas on critical national issues.

The MDBS is a scheme through which Ghana's development partners would assist poverty reduction programmes through the offer of financial assistance directly in the national budget to complement government's resources. Dr. Madavo said a qualifying standard for participation in the MDBS is for countries to operate effective budget and financial management systems that could easily stand the test of accountability. Dr. Madavo said the MDBS is however not the only means through which assistance for the country's development efforts would be channelled.

He added that there would be other windows of support to ensure that the country's development agenda succeeded. Dr. Madavo also underscored the Bank's support for the Strategy, saying that the paper is not an end but the beginning of a holistic process that would strengthen greater space for participation in efforts to reduce poverty. Various development partners stressed the need for opening up the process for the participation of civil society and other stakeholders to ensure the success of the project.