The International Finance Corporation (IFC) of the World Bank has announced plans to invest 600 million dollars into Ghana’s private sector.
The investment seeks to create job opportunities and enhance economic growth.
The Country Director of the IFC, Kyle Kelhofer, revealed that the investment will focus on the garment industry and agro-processing sectors.
He noted that this will be set if efforts to support job creation and industrial development.
He disclosed this during a courtesy call on the majority leader in Parliament.
“We are here to support the private sector, invest in the private sector, and mobilise the private sector, both international and local, and to help create more and better jobs. And what you saw last week at the garment factory was an example of Ghana’s increased ability to take advantage of industrialisation to create more and better jobs, and in garments in particular for women.
“This isn’t limited to just garments. It can also be agro-processing or other forms of industry, but we’re of the view there’s an increased opportunity. And as a result, we’ve been supporting more.
“Last year [2024], we probably mobilised, we financed approximately $450,000,000 for companies in Ghana. This year [2025], we’re targeting approximately 500 to 600,000,000 in Ghana. And whether it’s in things like the industrial zones directly, or industries or factories operating within these zones, or agro-processors operating throughout the country, helping to create more and better jobs.”
For his part, the Majority Leader, Mahama Ayariga, added that said, Clearly, a government will be constrained in terms of the financing of a lot of the commitments that we have made. And so increasingly, we need to be looking at sources like yours and then working with the private sector to be able to create jobs and grow the economy.
“And parliamentarians should be at the forefront of linking industries to funding sources and also trying to shape policy that will enable the development of industries. It will definitely go a long way to help us fulfil our commitment to young people, to create jobs, to grow the economy, and then to create more wealth for us to equitably distribute.”
By: Rainbowradioonline.com/Ghana
