Economic Management Strengthening

Abstract*

The objective of the Economic Management Strengthening Project is to strengthen the Government of Ghana’s institutional capacity for revenue and expenditure management. There are five components to the project, the first component being strengthening Ghana revenue authority’s business intelligence system. The overall objective of this component is to improve tax compliance, integrate income assessment regardless of source and location, simplify the... Show More

Development Objective

The Project Development Objective (PDO) is to strengthen the Government of Ghanaâ??s institutional capacity for revenue and expenditure management.

Key Details

Project Details

Project ID
P152171
Status
Closed
Team Leader
Furqan Saleem , Kwabena Kwakye
Borrower 2
Republic of Ghana

Country
Ghana
Disclosure Date
April 4, 2016
Approval Date
(as of board presentation)
August 30, 2016
Effective Date
November 1, 2016

Total Project Cost 1
US$ 15.00 million
Implementing Agency
Ministry Of Finance (MoF)
Region
Western and Central Africa
Fiscal Year 3
2017

Commitment Amount
US$ 15.00 million
Environmental Category
C
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2022

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED
Last Update Date
March 6, 2023

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Private Sector Development

FY17 - ICT30%
- FY17 - ICT Solutions30%
FY17 - Jobs100%

FY17 - Public Sector Management

FY17 - Public Administration69%
- FY17 - Public Assets and Investment Management30%
- FY17 - State-owned Enterprise Reform and Privatization39%
FY17 - Public Finance Management42%
- FY17 - Debt Management12%
- FY17 - Domestic Revenue Administration30%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	15.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	15.00
IBRD + IDA Commitment	15.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	15.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

No data available.

Detailed Financial Activity as of July 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Feb 21, 2024	IDA-58960	Int Charges	246.18
Aug 17, 2021	IDA-58960	Int Charges	71,149.84
Aug 15, 2021	IDA-58960	Int Charges	646.98
Aug 15, 2021	IDA-58960	Int Charges	646.98
Aug 17, 2021	IDA-58960	Int Charges	42,042.22
Aug 17, 2021	IDA-58960	Int Charges	42,042.22
Feb 15, 2022	IDA-58960	Loan Repay	1,384.16
Dec 9, 2021	IDA-58960	Loan Disb	3,188,627.80
Mar 18, 2022	IDA-58960	Loan Repay	244,768.62
Mar 18, 2022	IDA-58960	Int Charges	48,450.92
Mar 18, 2022	IDA-58960	Int Charges	48,450.92
Mar 18, 2022	IDA-58960	Int Charges	80,751.52
Aug 15, 2022	IDA-58960	Loan Repay	4,143.70
Sep 15, 2022	IDA-58960	Loan Repay	226,689.22
Sep 15, 2022	IDA-58960	Int Charges	157.77
Sep 15, 2022	IDA-58960	Int Charges	157.77
Sep 15, 2022	IDA-58960	Int Charges	262.93
Sep 15, 2022	IDA-58960	Int Charges	51,573.52
Sep 15, 2022	IDA-58960	Int Charges	51,573.52
Sep 15, 2022	IDA-58960	Int Charges	85,955.87
Mar 28, 2023	IDA-58960	Loan Repay	229,130.42
Mar 28, 2023	IDA-58960	Int Charges	147.12
Mar 28, 2023	IDA-58960	Int Charges	147.12
Feb 15, 2020	IDA-58960	Int Charges	1,343.02
Feb 15, 2020	IDA-58960	Int Charges	1,343.02
Sep 3, 2020	IDA-58960	Int Charges	54,957.92
Sep 3, 2020	IDA-58960	Int Charges	33,234.05
Sep 3, 2020	IDA-58960	Int Charges	33,234.05
Aug 15, 2020	IDA-58960	Int Charges	1,072.96
Aug 15, 2020	IDA-58960	Int Charges	1,072.96
Mar 12, 2021	IDA-58960	Int Charges	2,248.39
Mar 12, 2021	IDA-58960	Int Charges	34,660.33
Mar 12, 2021	IDA-58960	Int Charges	34,660.33
Mar 12, 2021	IDA-58960	Int Charges	57,767.24
Mar 31, 2021	IDA-58960	Loan Disb	2,900,000.00
Oct 2, 2018	IDA-58960	Loan Disb	6,164,946.00
Feb 15, 2019	IDA-58960	Int Charges	27,056.07
Feb 15, 2019	IDA-58960	Int Charges	27,056.07
Feb 15, 2019	IDA-58960	Int Charges	45,654.92
Sep 3, 2019	IDA-58960	Int Charges	33,069.55
Sep 3, 2019	IDA-58960	Int Charges	55,115.94
Sep 3, 2019	IDA-58960	Int Charges	395.91
Sep 3, 2019	IDA-58960	Int Charges	33,069.55
Feb 15, 2020	IDA-58960	Int Charges	31,843.99
Feb 15, 2020	IDA-58960	Int Charges	31,843.99
Feb 15, 2020	IDA-58960	Int Charges	55,311.70
Feb 22, 2018	IDA-58960	Int Charges	936.00
Feb 22, 2018	IDA-58960	Int Charges	11,086.50
Feb 22, 2018	IDA-58960	Int Charges	11,086.50
Feb 22, 2018	IDA-58960	Int Charges	17,755.82
Aug 15, 2018	IDA-58960	Int Charges	689.32
Aug 15, 2018	IDA-58960	Int Charges	10,589.33
Aug 15, 2018	IDA-58960	Int Charges	10,589.33
Aug 15, 2018	IDA-58960	Int Charges	17,648.89
Feb 15, 2019	IDA-58960	Int Charges	578.60
Feb 15, 2019	IDA-58960	Int Charges	578.60
Jan 31, 2017	IDA-58960	Loan Disb	2,773,710.00
Sep 15, 2017	IDA-58960	Int Charges	17,244.55
Sep 15, 2017	IDA-58960	Int Charges	908.23
Sep 15, 2017	IDA-58960	Int Charges	908.23
Sep 15, 2017	IDA-58960	Int Charges	1,513.72
Sep 15, 2017	IDA-58960	Int Charges	10,898.81
Sep 15, 2017	IDA-58960	Int Charges	10,898.81
Aug 30, 2016	IDA-58960	Loan Commitment	15,000,000.00
Mar 28, 2023	IDA-58960	Int Charges	245.21
Mar 28, 2023	IDA-58960	Int Charges	52,656.04
Mar 28, 2023	IDA-58960	Int Charges	52,656.04
Mar 28, 2023	IDA-58960	Int Charges	83,901.14
Feb 15, 2023	IDA-58960	Loan Repay	10,429.52
Aug 15, 2023	IDA-58960	Int Charges	-0.27
Aug 15, 2023	IDA-58960	Int Charges	0.27
Sep 15, 2023	IDA-58960	Int Charges	201.30
Sep 15, 2023	IDA-58960	Int Charges	3,784.48
Sep 15, 2023	IDA-58960	Loan Repay	234,995.90
Sep 15, 2023	IDA-58960	Int Charges	201.30
Sep 15, 2023	IDA-58960	Int Charges	335.51
Sep 15, 2023	IDA-58960	Int Charges	50,759.35
Sep 15, 2023	IDA-58960	Int Charges	50,759.35
Sep 15, 2023	IDA-58960	Int Charges	84,598.92
Feb 1, 2023	IDA-58960	Loan Cancel	1,390.21
Aug 15, 2024	IDA-58960	Loan Repay	4,098.15
Aug 16, 2024	IDA-58960	Int Charges	49,694.36
Aug 16, 2024	IDA-58960	Int Charges	49,694.36
Aug 16, 2024	IDA-58960	Int Charges	29.22
Aug 16, 2024	IDA-58960	Int Charges	29.22
Aug 16, 2024	IDA-58960	Int Charges	48.70
Aug 16, 2024	IDA-58960	Loan Repay	234,221.56
Aug 16, 2024	IDA-58960	Int Charges	77,310.31
Feb 21, 2024	IDA-58960	Int Charges	50,159.56
Feb 21, 2024	IDA-58960	Int Charges	50,159.56
Feb 15, 2024	IDA-58960	Loan Repay	4,520.35
Feb 21, 2024	IDA-58960	Int Charges	83,599.24
Feb 21, 2024	IDA-58960	Loan Repay	231,765.84
Feb 21, 2024	IDA-58960	Int Charges	147.71
Feb 21, 2024	IDA-58960	Int Charges	147.71

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Procurement	Moderately Satisfactory	2022-04-05
Project Management	Moderately Satisfactory	2022-04-05
Progress towards achievement of PDO	Moderately Satisfactory	2022-04-05
Financial Management	Moderately Satisfactory	2022-04-05
Monitoring and Evaluation	Moderately Satisfactory	2022-04-05
Overall Implementation Progress (IP)	Moderately Satisfactory	2022-04-05

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 03-04-2023
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 12-25-2023	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Moderately Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Moderately Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Modest	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

PDO Indicator 2: Deviation of the share of short-term refixing in total debt at the end of the year from the level set out in the medium-term debt management strategy (MTDS)	Value	2.00	0.50	1.00
	Date	May 1, 2016	December 31, 2021	December 31, 2018
	Comment

PDO Indicator 3: Percentage of public investment projects that are prioritized on the basis of published standard criteria for project selection (prior to the inclusion in the budget)	Value	0.00	30.00	5.00
	Date	May 1, 2016	December 31, 2021
	Comment

PDO Indicator 4: The number of SOEs covered by the aggregate annual reports on SOE financial and governance performance issued no later than six months after the end of the year to the public	Value	0.00	20.00	15.00
	Date	May 1, 2016	June 30, 2022
	Comment

PDO Indicator 1: To increase ratio of four major taxes to GDP Value 9.00 10.00 9.50
Date December 31, 2018 December 31, 2021 December 31, 2020
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

IR Indicator 1.1: Launch of Data Warehouse with Business Intelligence System fully integrated	Value	No data warehouse	Launch of CRS linked to GRA data warehouse	Launch of CRS linked to GRA data warehouse
	Date	May 1, 2016	December 31, 2021	June 30, 2022
	Comment

IR Indicator 2.1 Contracting of new external borrowing does not exceed the borrowing limits for non-concessional borrowing and borrowing from the International Capital Markets, as set in the MTDS.	Value	1.50	0.00	0.50
	Date	May 1, 2016	December 31, 2021
	Comment

IR Indicator 3.1: Roll out and operationalization of PIM strategy and action plan	Value	No PIM strategy/Action Plan	PIP established	PIM operational and institutional guidelines discl
	Date	May 1, 2016	June 30, 2022
	Comment

IR Indicator 4.1: SOEs with audited annual financial reports publicly disclosed by the time of SOE Annual General Meetings Value 0.00 16.00 10.00
Date May 1, 2016 June 30, 2022
Comment

IR Indicator 1.2 The usage of the new DW in their auditing and reporting practices	Value	No Data Warehouse	Achieved	The management reporting process. The enforcement
	Date	May 1, 2016	February 25, 2022	June 30, 2022
	Comment

IR Indicator 2.2: Public debt data available on MoF’s official website (within months of end of Ghana’s fiscal year) Value 6.00 3.00 4.00
Date May 1, 2016 June 30, 2022 March 29, 2019
Comment
IR Indicator 3.2: New projects reviewed by PID team for quality assurance in line with PIM guidelines Operations Manual (Number, Custom) Value 0.00 30.00 15.00
Date May 1, 2016 June 30, 2022
Comment
IR Indicator 4.2: Implementation of the annual action plans for the five SOEs Value 0.00 80.00 50.00
Date May 1, 2016 December 31, 2021 March 29, 2019
Comment

IR Indicator 2.3: An operational risk guideline with a business continuity (BCP) and a disaster recovery plan (DRP) approved and reviewed biannually (Yes/No, Custom)	Value	No	Yes	Yes
	Date	May 1, 2016	June 30, 2022
	Comment

IR Indicator 3.3: Civil servants who receive PIM-related trainings (of which female) Value 0.00 1697.00 400.00
Date May 1, 2016 February 25, 2022 March 29, 2019
Comment
IR Indicator 4.3: CSOs participating in the annual stakeholder workshop on SOE governance Value 0.00 17.00 10.00
Date May 1, 2016 June 30, 2022
Comment
Of which female Value 0.00 506.00 120.00
Date May 1, 2016 June 30, 2022 March 29, 2019
Comment
IR Indicator 3.4: National ICT-based M&E System developed with capability to monitor Public Investment Projects Value 0.00 20.00 5.00
Date May 1, 2016 June 30, 2022
Comment

PDO Indicator 1: To increase ratio of four major taxes to GDP	Value	9.00	10.00	9.50
	Date	December 31, 2018	December 31, 2021	December 31, 2020
	Comment

IR Indicator 2.2: Public debt data available on MoF’s official website (within months of end of Ghana’s fiscal year)	Value	6.00	3.00	4.00
	Date	May 1, 2016	June 30, 2022	March 29, 2019
	Comment

Of which female	Value	0.00	506.00	120.00
	Date	May 1, 2016	June 30, 2022	March 29, 2019
	Comment