The bank’s Vice President for Africa, Dr Hafez Ghanem made this revelation while embarking on a three-day visit to Ghana.
Ghana to benefit from a $4 billion dollar investment from the World Bank after Dr Ghanem’s visit to the country
The World Bank has revealed that Ghana will benefit from a $4 billion-dollar investment in Africa.
The $4 billion investment is part of the bank’s Human Capital Project for the year.
Dr Ghanem, together which some officials, was at the bank’s launch of Africa CSO and Parliamentary Development Dialogue series to engage with key civil society organizations around major development priorities in the continent.
The World Bank seeks to invest in the educational sector of the country, productive social protection which seeks to provide funds to help families and increase their incomes, a very comprehensive rural water sanitation programme, among others.
The World Bank Group scored Ghana 44% on Human Capital Index (HCI) and Components.
The Country Director for the World Bank, Henry Kerali, who spoke at the event complained of Ghana’s low performance on the latest HCI report although it is one of the best among its compatriots in West Africa.
He said, “Think of yourselves as aiming higher; we still have a long way to go to able to catch up with countries like Rwanda, countries in Africa that are higher ranked in Human Capital Index terms but even higher than Rwanda,” adding that, “Ghana is low middle-income country, and we should be aspiring to achieve the target set or at least averages achieved by other low middle-income countries so don’t set your targets to be the best among the worst but the best among the best.”
The Human Capital Index measures the amount of human capital that a child born today can expect to attain by age 18. It conveys the productivity of the next generation of workers compared to a benchmark of a complete education and full health.
It is constructed for 157 countries in the world.
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