Ghana Aims to Deepen Partnership with IFC to Strengthen Strategic Sectors

Dr. Cassiel Ato Forson, Ghana’s Finance Minister, recently engaged in pivotal discussions with Mr. Makhtar Diop, Managing Director of the International Finance Corporation (IFC), during the 2024 World Bank-IMF Spring Meetings in Washington, D.C. The meeting underscored Ghana’s commitment to strengthening its collaboration with the IFC to enhance investment in key sectors such as infrastructure, agriculture, and financial services.

Mr. Diop emphasized the importance of targeted investments to maximize impact, highlighting that Ghana has yet to fully leverage its diaspora as a resource for development. He described the diaspora as a “goldmine” of investment potential and expertise, suggesting that tapping into this resource could significantly accelerate national development.

In response, Dr. Forson welcomed the IFC’s continued support and extended an invitation from President John Dramani Mahama for Mr. Diop to visit Ghana for further engagements. He reiterated the government’s focus on attracting private capital to bolster economic transformation, particularly in infrastructure and agriculture.

The delegation also included the Governor of the Bank of Ghana, Dr. Johnson Asiama, who highlighted the IFC’s role in stabilizing Ghana’s financial sector, especially in supporting specialized deposit-taking institutions undergoing reforms. Additionally, the Chairman of the National Development Planning Commission (NDPC), Dr. Nii Moi Thompson, and former Finance Minister Mr. Seth Terkper, now a Senior Economic Advisor at the Ministry of Finance, contributed to the discussions.

This engagement marks a significant step towards strengthening Ghana’s economic partnerships and fostering sustainable development through collaborative efforts with international financial institutions.