Simon Madjie, the Chief Executive Officer of the Ghana Investment Promotion Centre (GIPC) has led discussions with the World Bank Group to review the progress of the Ghana Economic Transformation Project (GETP) and explore new areas of collaboration.
The World Bank delegation included Andres F. Garcia, Senior Economist & GETP Task Team Leader; Shane S. Sela, Senior Trade Facilitation Specialist; Elwyn Davies, Senior Economist; and Emmanuel Awuni, Private Sector Specialist.
During the meeting, Simon Madjie highlighted the need for enhanced support in identifying and mapping investment opportunities across all districts in Ghana.
In response, the World Bank team reaffirmed their commitment to working with GIPC and pledged further engagement to explore funding opportunities for initiatives aligned with GIPC’s mission of promoting investment and economic growth in Ghana.
Background
The Ghana Economic Transformation Project aims to promote private investments and firm growth in non-resource-based sectors. This project has four components.
(1) – Enabling investments, will focus on improving the enabling business environment, investment attraction capacity, and the quality infrastructure support system for companies that want to invest and grow their businesses in Ghana. Component
(2) – Crowding-in investments: Promoting spatial and industrial planning and development, will focus on enhancing the Government’s programs in investment promotion and spatial development (including Special Economic Zones), thereby addressing the constraint to access quality industrial land in the country. Component (3) – Accelerating Entrepreneurship and MSME growth, will support entrepreneurship and MSME growth in non-resource-based sectors, addressing specifically the limited development of the MSME and entrepreneurship support ecosystem, including early-stage financing. Component
(4) – Project Management and Evaluation, will finance project management activities including fiduciary responsibilities, procurement, communication and dissemination, as well as monitoring and evaluation of project implementation and its impact. This will include capacity building for the Project Coordinating Unit (PCU), the Economic Transformation Unit, and the Resource Mobilization and Economic Relations Division (RMERD) within the Ministry of Finance (MOF).
The Project Development Objective is to promote private investments and firm growth in non-resource-based sectors.
