Report by: Ben LARYEA
The World Bank has disclosed that Ghana has the potential to become energy hub in the West Africa sub-region therefore, the bank has called on players in the energy space to effectively invest adequately in power transition and interconnection agreements with countries that import electricity from the country.
According to the World Bank, there is huge potential also in solar energy since other countries are making fervent preparations to make a transition from conventional energy to renewables.
The Managing Director of the World Bank in Charge of Operations, Anna Bjerde disclosed at a news conference to climax her 4 days visit to Ghana to inspect World Bank-financed projects notably among them are the Ghana Accountability and Learning Outcomes, the Ghana Tech Hub, and Ghana Innovation Hub at the Accra Digital Center.
Besides, the delegation paid a courtesy call to the President Nana Addo Dankwa Akuffo-Addo and held talks with government officials including Vice President, Dr. Mahama Bawumia, Finance Minister, Ken Ofori Atta on areas such as macroeconomic issues relating to the energy sector, IMF program, debt restriction among others.
She said the World Bank have provided technical support to government in areas such as proper billing and metering to enable government to collect the needed revenue to cover cost and ensure that energy supply is not interrupted.
Throwing more light on the energy challenges of the country, Ms. Bjerde urged the government to create room for Public Private Partnership (PPP) in the energy sector as part of the effort to provide the power needs of the citizens to enhance economic growth and development.
Turning the spot light on energy plan, she however challenged the Ministry of Energy, Gender Social Protection and Finance to draw up a comprehensive plan to cushion vulnerable grows, adding that the World Bank will support the plan with the required expertise to ensure that vulnerable groups are protected in the wake of tariffs increase.
The World Bank Country Director in Charge of Ghana, Liberia, and Sierra Leone, Mr. Pierre Laporte said, the bank is committed to support the country with $950 million in the next three years saying it forms part of the effort to address the country’s economic challenges and was quick to disclosed that World Bank’s current portfolio for the country stands at $ 3.6 billion.
“The Bank will consequently release $ 250 million by the end of the year in the bid to support the Ghana Financial Stability Fund”, he said and explained that the move will help address the debt restructuring exercise of the banks in the country.
Source: www.thenewindependentonline.com
