Bangkok:Ghana has called for direct access to climate finance and predictable funding to facilitate its development projects. The Ministry of Finance emphasized the importance of local institutions gaining practical experience to enhance their capacity for managing investments.
According to Ghana Web, Richard Addo, Chief Economic Officer at the Ministry of Finance, underscored the need for national institutions to take charge of projects rather than relying on external experts. Speaking at the National Deal Teams and Platforms technical event during the 2026 IMF-World Bank Annual Meetings in Bangkok, Addo highlighted Ghana's need to translate development plans into projects that can attract funding and deliver results.
Addo explained that the country's Reset Agenda prioritizes economic growth, job creation, and economic transformation. However, the challenge remains in turning these goals into completed projects. He called for sufficient funding for the Ministry of Finance's Project Preparation Fund to aid in developing investment-ready projects, which could attract support from development finance institutions, private investors, and bilateral partners.
He identified the Ghana Infrastructure Investment Fund and Development Bank Ghana as key to structuring projects and attracting long-term and green financing. Addo pointed out that local institutions are sometimes seen as unprepared to manage climate finance due to a lack of opportunities to gain necessary experience.
Addo stressed the importance of international experts supporting, rather than overtaking, the responsibilities of local institutions. He advocated for partnerships that include plans for skill transfer and capacity strengthening. Additionally, he supported using Country Platforms to align government, investors, and development partners with national priorities, coordinating funding for projects in water, health, and climate resilience under the Vulnerability-to-Viability Compact.
Finally, Addo noted that Ghana's revised Climate Prosperity Plan offers a framework for aligning investment and financing with the nation's development goals. He urged development partners to entrust national institutions with greater responsibility for project implementation, emphasizing that building capacity is best achieved through project delivery.