Business

Ghana to receive $500m support in development assistance from UN

Under a previously agreed-upon framework, $440 million was spent to help the nation meet its developmental needs.

According to Charles Abani, the UN Resident Coordinator in Ghana, the new framework (2022-2025) is anticipated to increase aid to above $500 million.

CHECK OUT: UK PayPal Customers Can Now Buy, Hold, and Sell Cryptocurrency

This is a significant increase in the value that Ghana receives from the UN system. The main component of that has already been secured, and that is the 261 (million) that we announced at the Global Citizens (event).

Charles Abani stated in a JoyTV interview that the facility is prepared to support Ghana’s development.

We are now raising that money, which supports my pledge that we are willing to help with the rest,

The United Nations Development Program (UNDP) stated in a report titled “The Impact of the War in Ukraine on Sustainable Development in Africa” that “Africa is facing a double catastrophe with the combined consequences of the Covid-19 pandemic and the war in Ukraine now is a key time for action.”

The report continued, “It is essential to step up efforts and rethink development finance, increase African economies’ resilience, and support economic transformation as a fundamental driver for change in Africa.

Charles Abani highlighted that in order to prevent the effects of these external variables impeding sustainable development, the UN is working with Ghanaian organizations.

We must make sure that we are investing in the things that matter most, he emphasized. More work needs to be done to improve Ghana’s institutions and the capacity of Ghanaians.

The Ghanaian government is expected to collaborate with UN representatives to successfully develop the framework for cooperation.

Related Articles

Leave a Reply

Check Also
Close
Back to top button
%d bloggers like this:

Adblock Detected

Please consider supporting us by disabling your ad blocker