The Government of Ghana has signed a grant agreement with the African Development Bank (AfDB) to advance its national transformation agenda. The Finance Minister Dr. Cassiel Ato Forson, indicated that the agreement will provide supports the Ghanaian Women and Youth Employment and Social Cohesion (GWYESCO) Project with US$71.25 million in AfDB grants.
GWYESCO, Ghana’s first Results-Based Financing (RBF) initiative with the AfDB, aims to improve resilience, expand economic opportunities, and strengthen social cohesion. It targets women and youth through job creation, entrepreneurship support, skills development, and improved access to finance, particularly in underserved communities.
Dr. Forson emphasized that women and youth remain central to Ghana’s productive potential but face barriers like high unemployment and limited resources. With AfDB support, GWYESCO will train young people, empower women entrepreneurs, strengthen MSMEs, and build institutional capacity, while enhancing community resilience to climate and security risks.
The RBF approach ties funding to measurable outcomes, promoting transparency, efficiency, and accountability.
AfDB Country Director Fasika Eyerusalem praised the Government of Ghana for its leadership and reaffirmed the Bank’s commitment to ongoing technical support.
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