EIB Commits 720M EUR to Ghana
The European Investment Bank (EIB) has published it’s 11th National Indicative Program (NIP) for Ghana for the period 2014-2020. The EIB operates The European Development Fund (EDF), which is financed by direct contributions from EU Member States. The total financial resources of the 11th EDF amount to €30.5 billion for the period 2014-2020.
For Ghana EDF has committed an indicative 720M EUR for the period 2013-2020 (total of 10th and 11th NIP). EIB, together with the 8 member states currently present in Ghana (CZ, DE, DK, ES, FR, IT, NL, UK), have listed three key development priorities, being 1) Governance: Public Sector Management and Accountability, 2) Productive Investment for Agriculture in Savannah in Ecological Zones and 3) Employment and social protection. Up until 2016 the parties committed a combined amount of 1,456M EUR, of which EDF contributed 397M EUR. For the period 2017-2020 EDF has indicated they will contribute an estimate of 323M EUR. The majority of funds, 160M EUR is committed to sector/priority 2.
The joint programming initiative, designed to harmonize bilateral programs from all participants, is split in two phases. 2013-2016 will be used for the partners to synchronize funding cycles, while for phase two, 2017-2020, the full-fledged joint program will be implemented. The EU, Ghana and 15 Development Partners (DPs) signed this overall country strategy in light of the document ”Leveraging Partnerships for Shared Growth and Development”. For all the details on the NIP for Ghana make sure to check out there general agreement.