The World Bank has reiterated an earlier promise that Ghana will continue to enjoy its assistance despite attaining middle income status.
Ghana last month statistically joined the league of middle income countries following a rebasing of the economy.
The rebasing by the Ghana Statistical Service shot up the GDP from 25 billion Ghana cedis to 44 billion. Donor countries have usually scaled back assistance to middle income countries.
The World Bank Country Director Ishac Diwan told Joy Business that although the bank will shift its focus for Ghana, the funds will continue to flow at least for a while longer.
“We at the World Bank work with countries that are poorer than Ghana and those that are richer than Ghana so we want to adjust as we go along to more sophisticated products that are demanded by middle income countries,” he explained.
He said the Bank will now be providing Ghana with products that meet Ghana’s peculiar needs.
He however added that the country will have to be eventually weaned-off development assistance.
Source: Joy Business/Ghana
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