The Ministry of Finance says the government has begun process of aligning resources towards critical areas under the Coronavirus Alleviation and Revitalization of Enterprises Support (CARES) also known as Ghana CARES Obaatanpa programme.
In a release the Ministry said government is engaging the International Finance Corporation (IFC), in a two-day retreat to strategise on how to align IFC’s medium-term strategy to the priority areas outlined in the GH¢100 billion initiative.
The workshop, to be held June 9-10, 2021, will among others, discuss government’s strategic plan for private sector development and unlocking long-term growth capital to support Ghanaian Micro, Small and Medium-Sized Enterprises (MSME) under a synergised CARES and IFC Ghana Strategy.
IFC’s Vice President for Middle East and Africa, Sérgio Pimenta, will lead the IFC team with the Minister for Finance, Ken Ofori-Atta leading the Government team.
Also scheduled to participate in the workshop are the Ministers for Trade & Industry, Food & Agriculture, Communication & Digitalisation and Works & Housing. Private Sector representatives, and government agencies such as the Bank of Ghana, Ghana Investment Promotion Centre (GIPC), Ghana Infrastructure Investment Fund (GIIF), and Ghana Export-Import Bank (EXIM), are also scheduled to participate.
Some of the critical areas for the deep dive sessions include agriculture and agri-business, affordable housing, infrastructure financing and development, Entrepreneurship, manufacturing, and digitalization.
The Ghana CARES Obaatanpa Programme was launched in November 2020 as government’s response to mitigate the negative impact of the COVID-19 pandemic and return the economy to a path of robust and sustainable growth over the next 3 years.
At the end of the retreat, the Ministry said participants from the critical sectors will agree on IFC priorities aimed at supporting the government’s transformation agenda over the medium term.