Govt reaffirms commitment to AfDB partnership as Ghana secures US$71.25m Grant for Women and Youth Empowerment Programme

The Government of Ghana has renewed its commitment to strengthening cooperation with the African Development Bank (AfDB) as it pushes forward with its national transformation agenda.

This assurance was delivered by the Minister for Finance, Dr. Cassiel Ato Forson, during the signing ceremony of the grant agreement for the Ghana Women and Youth Employment and Social Cohesion (GWYESCO) Project.

The initiative, Ghana’s first Results-Based Financing (RBF) programme supported by the AfDB, represents a major step toward improving the efficiency, impact, and accountability of public investments. The AfDB Board of Directors has approved a total of US$71.25 million in grants to support the programme.

GWYESCO is a flagship intervention designed to advance Ghana’s long-term development goals by boosting resilience, expanding economic opportunities, and strengthening social cohesion. The programme focuses on improving the livelihoods of women and young people through job creation, entrepreneurship development, access to finance, and tailored skills training—especially for vulnerable and underserved communities.

Addressing participants at the ceremony, Dr. Forson underscored the central role of women and youth in Ghana’s socioeconomic development, describing them as the “backbone of the nation’s creative and productive potential.” However, he noted that they continue to face persistent barriers such as unemployment, limited financing, and insufficient skills.

“With the support of the African Development Bank, GWYESCO will train young people, empower women entrepreneurs, expand financing opportunities, strengthen micro, small and medium enterprises, and build the capacity of key institutions to promote inclusive development,” he said.

He added that the programme would also enhance resilience in communities grappling with climate-related challenges and security vulnerabilities.

A key feature of GWYESCO is its Results-Based Financing model, which ties fund disbursements to measurable and verifiable outcomes. This shift from traditional input-based funding is expected to improve transparency, efficiency, and accountability, while strengthening national systems for sustainable programme delivery. The initiative aims to increase employment, raise household incomes, expand business opportunities, and reinforce community resilience.

AfDB Country Director Fasika Eyerusalem applauded the Government of Ghana for its leadership and professionalism throughout the programme’s design and negotiation phases. She reiterated the Bank’s commitment to providing strategic and technical support to ensure the programme exceeds its objectives and delivers broad-based development impact.

The signing ceremony brought together officials from the Ministry of Finance, the African Development Bank, and the Social Investment Fund, marking a significant step toward accelerating inclusive growth and social transformation in Ghana.