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PublicationGhana : The Village Infrastructure Project(Washington, DC, 2006-09) World BankThe project, with an IDA credit of US$30 million, and a total of $60 million was implemented by the government between 1998 and 2004. It was jointly financed by KFW $7m; IFAD, $10; GoG $7.1m; District Assemblies $3.0m and beneficiaries $2.9m. Its main objective was to support the government's efforts to reduce poverty and enhance the quality of life of the rural poor through the increased transfer of technical and financial resources for the development of basic village-level infrastructure that could be maintained by the beneficiaries. It also supported the capacity building of District Assemblies to better plan and manage these investments. The project had 4 components: (i) Rural water infrastructure; (ii) Rural transport infrastructure; (iii) Rural post-harvest infrastructure; and (iv) Institutional strengthening. PublicationGhana - Mining and Development(World Bank, Washington, DC, 2004-10) Mohan, P.C.The objectives of the project ($9.37 million, 1996-2001) were to (a) enhance the capacity of the mining sector institutions to carry out their functions of encouraging and regulating investments in the mining sector in an environmentally sound manner and (b) support the use of techniques and mechanisms that will improve productivity, financial viability and reduce the environmental impact of small-scale mining operations. It had two components: Strengthening of Mining Sector Institutions, and Assistance to Small-scale Mining Enterprises. The project took into account lessons learned from three previous operations in Ghana which focused on developing the mining sector: the Export Rehabilitation project, the Export Rehabilitation Technical Assistance project, and the Mining Sector Rehabilitation project. PublicationMicro and Rural Finance in Ghana : Evolving Industry and Approaches to Regulation(World Bank, Washington, DC, 2004-01) Steel, William F.; Andah, David O.The note reviews the structure and performance of Ghana's rural, and micro-finance institutions (RMFIs), through a financial system, namely comprising three main categories: formal, semi-formal, and informal systems. It then analyzes the liberalization of its financial policies (late 1980s) and the supervision regime, indicating that while Ghana's approach has yielded a wide range of RMFIs, and products - potentially outreaching the poor based on savings mobilization - it has also permitted the easy entry of institutions with weak management, and internal controls. This demonstrates the difficulty in striking the right balance between encouraging entry and innovation, and establishing adequate supervision capacity. PublicationGhana : Coastal Wetlands Management(World Bank, Washington, DC, 2002-06) Mohan, P. C.The objectives of the Coastal Wetlands Management Project for Ghana (1993-99) were to maintain the ecological integrity of five key coastal wetland areas by involving the people who derive their livelihood from these ecosystems in the planning and implementation of management programs; to identify and monitor the common resources that benefit the human and bird populations in the wetlands, and manage them without unduly restricting the options of people to derive benefit from the resources. It would also develop capabilities at government and community level for implementing the program. This project was implemented with the assistance of a Global Environmental Trust Fund grant. PublicationGhana - Women's Role in Improved Economic Performance(Washington, DC, 1999-10) World BankThe Government of Ghana's program to develop a gender strategy has been supported by the World Bank. This article is based on a Bank-assisted sector study, Ghana: gender analysis and policymaking for development. The Bank team worked closely with Ghanaian Ministries of Agriculture, Micro-finance, Education, and Health to identify gender issues and study feasible recommendations. Along with the government, a broad range of stakeholders participated in the study, including academic institutions, non-governmental organizations, and women's groups. Through workshops and mission visits, four points of focus were identified for the study: agriculture, micro-enterprises, education, and health. Many of the stakeholders also emphasized the importance of strengthening Ghana's institutional capacity to develop and implement policies that adequately address gender concerns. The study focuses on two broad areas of gender-based differences and inequalities: the links between gender and economic productivity, and the development of human capital. In addition to the study described here, the Ghanaian government produced two policy documents from this study; both are now under final review within the government. PublicationIntegrated Coastal Zone Management Strategy for Ghana(World Bank, Washington, DC, 1998-06) Hewawasam, InduEnvironmental degradation of coastal areas was identified as a key issue in Ghana's Environmental Action Plan. The central objective of the World Bank-assisted Integrated Coastal Zone Management (ICZM) initiative in Ghana, which commenced in 1995, was to identify economically, socially and environmentally appropriate interventions and projects in the coastal zone that improve the prospects for human development. ICZM is recognized by governments, international agencies and by the donor community as a process through which coastal eco-systems and resources can be protected, developed and managed in a sustainable manner. In order for implementation to be successful, effective ICZM must be based on a clear understanding of the complexities of the relation between coastal natural resources, and the coastal population that subsists on these resources. More concretely, this understanding must relate to how specific economic, political, social and technical parameters link, in a reciprocal way, specific coastal ecosystems and specific human activities. PublicationTechnoServe in Ghana(Washington, DC, 1998-05) World BankTechnoServe (TNS) is an international non-governmental organization founded in 1968 and has programs in 14 countries in Africa, Latin America and Central Europe. The Ghana program was established in 1971. TechnoServe's mission is to establish sustainable community-based enterprises that increase productivity, income and employment. It opposes food relief, subsidized inputs and grants and promotes self-help and technical assistance to rural communities. This approach involves the provision of financial and business management training in order to help these communities make sound business decisions and create and operate their own enterprises. Although TNS believed that the key to financing these small community-based enterprises was savings, eventually it became convinced that credit was also necessary. TNS therefore evolved its own financial mediation strategy by developing innovative mechanisms for micro-enterprise financing. PublicationGhana - Promoting Growth, Reducing Poverty(World Bank, Washington, DC, 1995-11) Alam, AsadThe policy reforms since 1983 have reduced the fiscal deficit and inflation, helped improve infrastructure services, and shifted relative prices and incentives towards the tradable sector, in general, and towards exports, in particular. The key element of fiscal consolidation up to 1991 was the growth in government revenues, whose share of Gross Domestic Product (GDP) rose from 6 percent in 1983 to 13 percent in 1986 and to 16 percent in 1991. Higher revenues made it possible to reduce the fiscal deficit and, at the same time, increase public investment in infrastructure which had virtually collapsed prior to 1983. Prudent monetary management also led to inflation falling from 123 percent in 1983 to 40 percent in 1986 and 18 percent in 1991. The resulting improvements in macroeconomic stability made it possible for farms and firms to respond to the shift in production incentives induced by the policy reforms. As a result of these reforms, the economy turned around. Although economic activity witnessed its biggest surge during the early years of the Economic Recovery Program (ERP) (5.3 percent annually during 1983-86), aggregate growth has averaged 4.7 percent per annum since 1987. The private sector has made a significant contribution to growth. However, this growth performance has not been uniform across sectors. Agriculture recorded an annual growth rate of only 1.9 percent since 1987 while services have grown at an average annual rate of 7.4 percent over the same period. Merchandise exports and imports have grown faster than GDP and with it, complementary wholesale and retail trade. The share of external trade in GDP increased from about 5 percent in 1983 to 32 percent in 1986, 35 percent in 1991, and 55 percent in 1994. PublicationSmall Enterprise Finance under Liberalization in Ghana(World Bank, Washington, DC, 1994-11) Aryeetey, Ernest; Baah-Nuakoh, Amoah; Duggleby, Tamara; Hettige, Hemamala; Steel, William F.This study investigates the apparent contradiction between the high propensity of small- and medium-sized enterprises (SMEs) to identify finance as their primary constraint and the view of banks that SME lending remains low in part for lack of bankable demand. Surveys were conducted of relatively successful microenterprises and SMEs to assess demand and sources of finance, and formal and informal financial institutions were interviewed to analyze constraints on the supply side. The survey results show that credit for start-up is rare and that the smaller the enterprise, the greater the equity finance share of the initial investment. Many SMEs achieve substantial growth through reinvestment of profits, making it difficult to conclude that entry and growth of SMEs depends crucially on loans. Other forms of finance, such as customers' advances and supplier's credit are at least as important as bank credit. Nevertheless, the evidence suggests that exploitation of highly profitable opportunities by SMEs could be accelerated if they had greater access to external financing. Tight money, banks' efforts to improve portfolio performance, centralization of decision-making, and lack of competition explain why banks have shown little interest in developing SMEs as a market niche. The study suggests techniques that banks could adopt to overcome the problems of high transaction costs and risks in SME lending, drawing on the methods of informal financial agents.