World Bank’s active local portfolio hits $3.6 billion

• Posted on July 12, 2023July 12, 2023
• by Nana Kwesi Coomson
• Comment

The active portfolio of the World Bank in the country is worth $3.6 billion across 21 active projects.

The portfolio is spread across several sectors, with urban resilience and land attracting the largest investments of 17 per cent.

The health, nutrition and population sector follows with 16 per cent of the portfolio; finance and competitiveness constitutes 14 per cent; social protection and jobs take 12 per cent, with digital development constituting 11 per cent.

 The External Affairs Officer for West and Central Africa, Ken Fosu, made this known to the Daily Graphic last Monday ahead of the arrival in the country of the World Bank Managing Director for Operations, Anna Bjerde.

Ms Bierde is expected in the country today for a four-day official visit.

A statement issued by the World Bank Ghana Office said Ms Bjerde would be accompanied by the World Bank Vice-President for Western and Central Africa, Ousmane Diagana.

This is one of Ms Bjerde’s first travels since her appointment as Managing Director on April 3 this year.

Key discussions

Mr Fosu explained that while in the country, Ms Bjerde and her delegation would pay a courtesy call on President Nana Addo Dankwa Akufo-Addo to discuss pertinent issues regarding the local economy.

Additionally, the World Bank statement said World Bank officials would hold high-level discussions with government officials, including the Vice-President, Dr Mahamudu Bawumia, and the Minister of Finance, Ken Ofori-Atta.

The discussions are expected to centre on “critical areas of the World Bank Ghana programme, including macroeconomic, energy sector issues, Ghana’s International Monetary Fund (IMF) programme, debt restructuring and significant structural reforms needed to accelerate sustainable economic growth over the medium to long term”.  

Ms Bjerde is also expected to visit World Bank-financed projects such as the Ghana Accountability and Learning Outcomes Project, the Ghana Tech Hub and the Ghana Innovation Hub at the Accra Digital Centre.

Global picture

Globally, World Bank operations comprise an active portfolio of 1,813 projects to a value of $300 billion.

Annual lending has averaged around $65 billion over the past three years.

The operational complex of the World Bank also produces ground-breaking analytical work informing policy reforms, priority investments, technical assistance and targeted poverty reduction.

World Bank operations are grounded in a country-based model, and focused on responding to the crises of recent years and medium-term development priorities, including addressing challenges such as poverty reduction, equitable growth and climate change.
 

Anna Bjerde’s profile

The Office of the Managing Director of the World Bank brings together the operations units of the bank, which include the regional vice-presidencies and operations policy and country services.

The World Bank’s Fragility, Conflict and Violence Department also reports to the Managing Director.

Prior to assuming the role of Managing Director, Ms Bjerde served as Vice-President for Europe and Central Asia, where she led the World Bank’s efforts to steer the region through a series of overlapping global shocks — the COVID-19 pandemic, a cost-of-living crisis, natural disasters and the World Bank’s large-scale response to Ukraine.

She previously worked as Director of Strategy and Operations for the Middle East and North Africa region.

Between 2015 and 2018, she oversaw the World Bank’s strategies, lending and analytical work for Sustainable Development, covering all the World Bank’s regions.

She was also the Director of Strategy and Operations in the Europe and Central Asia region in 2014-15.

Ms Bjerde held a leadership role overseeing the World Bank’s operations in Sustainable Development and Infrastructure in the Africa region between 2011 and 2013.

She has over 30 years of experience working in development across sectors and regions, with a specific interest in inclusive growth and sustainable infrastructure development.

She is a recognised and experienced leader with a strong track record of delivering large client programmes, mobilising resources, managing and motivating extensive and decentralised workforces, and forging strong bilateral and multilateral partnerships.

Ms Bjerde holds a Master in Business and Economics degree from the University of Stockholm. 

-Graphic