Ghana Economic Transformation Project

Abstract*

The objective of the Ghana Economic Transformation Project is to promote private investments and firm growth in non-resource-based sectors. This project has four components. Component (1) - Enabling investments, will focus on improving the enabling business environment, investment attraction capacity and the quality infrastructure support system for companies that want to invest and grow their businesses in Ghana. Component (2) - Crowding-in investments:... Show More

Development Objective

The Project Development Objective is to promote private investments and firm growth in non-resource based sectors.

Key Details

Project Details

Project ID
P166539
Status
Active
Team Leader
Andres Garcia
Borrower 2
Ministry of Finance

Country
Ghana
Disclosure Date
April 5, 2019
Approval Date
(as of board presentation)
July 2, 2019
Effective Date
August 31, 2020

Total Project Cost 1
US$ 200.00 million
Implementing Agency
Ghana Investment Promotion Center,Office of the Registrar of Companies,Venture Capital Trust Fund,Ministry of Trade and Industry,National Entrepreneurship and Innovation Programme
Region
Western and Central Africa
Fiscal Year 3
2020

Commitment Amount
US$ 200.00 million
Environmental Category
B
Last Update Date
November 6, 2023
Closing Date
June 30, 2026

Consultant Services required
Yes
Last Stage Reached
BANK APPROVED

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 - Finance

FY17 - Finance for Development43%
- FY17 - Infrastructure Finance43%
FY17 - Financial Infrastructure and Access43%
- FY17 - MSME Finance43%

FY17 - Human Development and Gender

FY17 - Gender17%

FY17 - Private Sector Development

FY17 - Business Enabling Environment60%
- FY17 - Investment and Business Climate60%
- FY17 - Regulation and Competition Policy28%
FY17 - Enterprise Development62%
- FY17 - Entrepreneurship49%
- FY17 - MSME Development56%
FY17 - Jobs25%
- FY17 - Job Creation25%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
IDA Credit	200.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	N/A
IDA Commitment	200.00
IBRD + IDA Commitment	200.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	200.00

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

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
May 11, 2023	IDA-64650	Int Charges	333,873.70
May 11, 2023	IDA-64650	Int Charges	4,529.83
Mar 30, 2023	IDA-64650	Loan Disb	23,880,000.00
May 16, 2023	IDA-64650	Loan Disb	1,450,882.80
Mar 31, 2023	IDA-64650	Loan Disb	2,625,000.00
May 11, 2023	IDA-64650	Int Charges	230,986.90
Nov 20, 2023	IDA-64650	Int Charges	50,523.82
Nov 20, 2023	IDA-64650	Int Charges	377,327.75
Nov 20, 2023	IDA-64650	Int Charges	377,327.75
Nov 20, 2023	IDA-64650	Int Charges	627,879.44
Dec 22, 2023	IDA-64650	Loan Disb	15,550,000.00
Dec 22, 2023	IDA-64650	Loan Disb	5,737,500.00
Jun 7, 2023	IDA-64650	Loan Disb	20,400,000.00
Nov 1, 2023	IDA-64650	Int Charges	0.01
May 1, 2024	IDA-64650	Int Charges	0.01
May 8, 2024	IDA-64650	Int Charges	991.47
Jun 17, 2024	IDA-64650	Loan Disb	11,020,000.00
May 8, 2024	IDA-64650	Int Charges	445,939.53
May 8, 2024	IDA-64650	Int Charges	445,939.53
May 8, 2024	IDA-64650	Int Charges	743,232.56
Nov 25, 2020	IDA-64650	Loan Disb	1,050,000.00
Sep 10, 2020	IDA-64650	Loan Disb	605,175.00
Apr 29, 2021	IDA-64650	Loan Disb	10,000,000.00
Jun 28, 2021	IDA-64650	Loan Disb	6,171,552.00
May 5, 2021	IDA-64650	Int Charges	651.81
May 5, 2021	IDA-64650	Int Charges	651.81
May 5, 2021	IDA-64650	Int Charges	1,086.35
May 5, 2021	IDA-64650	Int Charges	6,145.68
May 5, 2021	IDA-64650	Int Charges	6,145.68
May 5, 2021	IDA-64650	Int Charges	9,184.74
Jun 30, 2022	IDA-64650	Loan Disb	5,000,000.00
Nov 24, 2021	IDA-64650	Int Charges	1,029.49
Nov 24, 2021	IDA-64650	Int Charges	57,876.23
Nov 24, 2021	IDA-64650	Int Charges	57,876.23
Nov 24, 2021	IDA-64650	Int Charges	96,460.36
Jun 17, 2022	IDA-64650	Loan Disb	1,922,745.60
May 4, 2022	IDA-64650	Int Charges	64,305.32
May 4, 2022	IDA-64650	Int Charges	64,305.32
May 4, 2022	IDA-64650	Int Charges	112,614.91
Jun 21, 2022	IDA-64650	Loan Disb	10,000,000.00
Jul 2, 2019	IDA-64650	Loan Commitment	200,000,000.00
Nov 1, 2022	IDA-64650	Int Charges	7,135.90
Nov 14, 2022	IDA-64650	Loan Disb	5,000,000.00
Nov 15, 2022	IDA-64650	Int Charges	153,968.36
Nov 15, 2022	IDA-64650	Int Charges	153,968.36
May 11, 2023	IDA-64650	Int Charges	230,986.90
May 1, 2022	IDA-64650	Int Charges	3,270.28
May 1, 2022	IDA-64650	Int Charges	3,270.28
Jan 21, 2022	IDA-64650	Loan Disb	2,500,000.00
Jun 8, 2022	IDA-64650	Loan Disb	16,000,000.00
Nov 1, 2022	IDA-64650	Int Charges	7,135.90
Nov 15, 2022	IDA-64650	Int Charges	264,360.16

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Progress towards achievement of PDO	Moderately Satisfactory	2024-12-06
Procurement	Satisfactory	2024-12-06
Financial Management	Moderately Satisfactory	2024-12-06
Project Management	Satisfactory	2024-12-06
Monitoring and Evaluation	Satisfactory	2024-12-06
Overall Implementation Progress (IP)	Satisfactory	2024-12-06

COMPLETION RATINGS

No data available.

INDEPENDENT EVALUATION RATINGS

No data available.

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Private sector investments leveraged through project activities Value 0.00 169330000.00 250000000.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Increase (additional) in average value of gross sales by firms supported by the project Value 0.00 11.00 15.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Time to obtain a construction permit Value 87.00 68.00 40.00
Date April 14, 2022 September 27, 2023 November 30, 2025
Comment
Increase (additional) in average value of gross sales by women-owned firms supported by the project Value 0.00 0.00 0.00
Date
Comment
Time to resolve commercial disputes at district courts Value 98.00 98.00 77.00
Date April 14, 2022 September 27, 2023 November 30, 2025
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Viability Gap Fund established Value No Yes Yes
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Number of SMEs benefitting from capacity upgrading support Value 0.00 23.00 800.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Number of direct jobs created by the project Value 0.00 1091.00 1000.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Improvement in investor perception of GIPC performance Value 0.00 0.00 50.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Number of infrastructure subprojects implemented under Viability Gap Fund Value 0.00 0.00 2.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Increase in number of QI services delivered Value 0.00 74.00 300.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Of which women-owned Value 0.00 12.00 320.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Establishment of a Project Development Facility for spatial development Value No Yes Yes
Date July 1, 2020 September 27, 2023 November 30, 2025
Comment
Number of SMEs and entrepreneurs receiving financial support Value 0.00 277.00 400.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Number of new systems and tools deployed for improved investor servicing Value 0.00 0.00 6.00
Date July 1, 2020 September 27, 2023 November 30, 2025
Comment
Number of infrastructure projects/investments supported by the PDF Value 0.00 6.00 10.00
Date July 1, 2020 September 27, 2023 November 30, 2025
Comment
Number of Conformity Assessment Bodies certified Value 0.00 2.00 10.00
Date July 1, 2020 September 27, 2023 November 30, 2025
Comment
Of which women Value 0.00 0.00 0.00
Date
Comment
Of which women-owned Value 0.00 199.00 160.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Number of entrepreneurship hubs benefiting from capacity building support Value 0.00 30.00 20.00
Date July 1, 2020 September 27, 2023 November 30, 2025
Comment
Beneficiaries satisfied with quality of services provided by the project Value 0.00 67.00 75.00
Date June 6, 2019 September 27, 2023 September 6, 2025
Comment
Number of new hubs launched Value 0.00 0.00 12.00
Date July 1, 2020 September 27, 2023 November 30, 2025
Comment
Number of SMEs receiving financial support under the COVID19 window Value 0.00 786.00 600.00
Date April 1, 2020 September 27, 2023 November 30, 2025
Comment
Number of investments into general partners completed under the SCF and SIF Value 0.00 4.00 10.00
Date April 1, 2020 September 27, 2023 November 30, 2025
Comment

Private sector investments leveraged through project activities	Value	0.00	169330000.00	250000000.00
	Date	June 6, 2019	September 27, 2023	September 6, 2025
	Comment

Time to obtain a construction permit	Value	87.00	68.00	40.00
	Date	April 14, 2022	September 27, 2023	November 30, 2025
	Comment

Time to resolve commercial disputes at district courts	Value	98.00	98.00	77.00
	Date	April 14, 2022	September 27, 2023	November 30, 2025
	Comment

Viability Gap Fund established	Value	No	Yes	Yes
	Date	June 6, 2019	September 27, 2023	September 6, 2025
	Comment

Of which women-owned	Value	0.00	12.00	320.00
	Date	June 6, 2019	September 27, 2023	September 6, 2025
	Comment

Number of new hubs launched	Value	0.00	0.00	12.00
	Date	July 1, 2020	September 27, 2023	November 30, 2025
	Comment

Ghana Economic Transformation Project

Abstract*

Development Objective

Key Details

Project Details

Sectors

Themes

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Project Map

Finances

Financing Plan (US$ Millions)

Total Project Financing (US$ Millions)

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

Detailed Financial Activity as of March 31, 2025

Ratings

IMPLEMENTATION RATINGS

COMPLETION RATINGS

INDEPENDENT EVALUATION RATINGS

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INTERMEDIATE RESULTS INDICATORS