By Benjamin Nii Nai Anyetei
The Government of Ghana has reaffirmed its commitment to strengthening collaboration with the African Development Bank (AfDB) as it accelerates national transformation efforts, following the signing of a major grant agreement to support women and youth employment as well as social cohesion.
This assurance was given by the Minister for Finance, Dr. Cassiel Ato Forson, during the signing ceremony of the Ghana Women and Youth Employment and Social Cohesion (GWYESCO) Project—Ghana’s first Results-Based Financing (RBF) operation backed by the AfDB. The AfDB Board has approved US$71.25 million in grants to support the programme.
GWYESCO is designed to advance Ghana’s long-term development priorities by expanding economic opportunities, promoting resilience, and strengthening social cohesion, particularly among underserved and vulnerable populations. The programme will focus on job creation, entrepreneurship support, expanded access to finance, and targeted skills development.
Dr. Forson emphasised the central role of women and youth in Ghana’s development, stating:
“Women and youth represent the backbone of our creative and productive potential. Yet many continue to face structural barriers, high unemployment, limited access to finance, and inadequate skills.”
He added that the initiative will provide a major boost to inclusive growth:
“With the support of the African Development Bank, GWYESCO will train young people, empower women entrepreneurs, expand financing opportunities, strengthen MSMEs, and build the capacity of key institutions to advance inclusive development.”
Dr. Forson also highlighted the programme’s broader impact, noting:
“This support will help strengthen resilience in communities affected by climate-related risks and security vulnerabilities.”
A central feature of the programme is its use of a Results-Based Financing mechanism, in which disbursement of funds is tied directly to measurable and verifiable outcomes. This, according to the Ministry, is expected to significantly enhance transparency, efficiency, and accountability while reinforcing national systems for sustainable programme implementation.
Expected results include increased employment, higher household incomes, expanded business activity, and strengthened social cohesion.
The African Development Bank Country Director, Fasika Eyerusalem, applauded Ghana’s leadership throughout the development of the programme.
She said:
“We commend the Government of Ghana for its strong ownership, commitment, and professionalism during the design and negotiation stages of GWYESCO.”
She further assured the Bank’s continued support:
“The AfDB remains committed to providing technical and strategic assistance to ensure that the programme not only meets but exceeds its intended objectives and delivers broad-based development impact.”
The signing ceremony was attended by representatives of the African Development Bank, officials from the Ministry of Finance, and the Social Investment Fund.
