According to the outgoing Director of the World Bank, Frank Pierre Laporteunused project funds allocated to Ghana will be sent back to Washington DC.
One of those projects that could potentially be affected is the E-Transform Project.
Driving The News
In a press conference, the E-Transform project is scheduled to be completed in June 2024, and the funds to be used for the project are at risk of being returned to Washington for other uses.
Digging deeper
The outgoing director said there is a policy designed to oblige countries to use the funds allocated to them within a certain period of time or lose them for redistribution to other countries in need.
He revealed that some important projects were supposed to be executed but have been delayed, following rescheduling and postponements.
“Our projects usually last up to 4 to 5 years and are usually extended for two to three years, but our management no longer likes that. Projects will not exceed 10 years“, he stated.
E-Transform Project
Among the projects currently undertaken under E-Transform include:
- National Identification System: Implementation of a unique identification system for all citizens to improve service delivery and access to social programs.
- Electronic payment platform: Enable online payments for government services and taxes.
- eHealth: Digitizing medical records and improving healthcare service delivery.
- E-Learning: Development of online learning platforms and resources for schools and universities.
- Electronic Justice: Automating court procedures and improving access to justice.
- Business registration portal: Streamlining the online business registration process.
- Land Management System: Digitization of land records and improvement of land management.
What happens next?
Mr. Laporte indicated that an agreement has been reached with the Ministry of Finance and Communications to address the challenges delaying the government’s access to project funds.
“We are looking at the possibility of taking this money and putting it into other projects that will benefit Ghana“.
By The Numbers
Mr. Laporte stated that the World Bank has disbursed $1.6 billion in Ghana over the last four years. These are funds that have been advanced to Ghana to support certain projects in the economy.
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