Business News of Friday, 16 October 1998

Source: --

World Bank Funds ?24 Billion Project In Ghana

Accra,(Greater Accra) 16 Oct., '98 The International Development Agency (IDA) of the World Bank is financing a five-year project to revamp Ghana's fishing industry.

The World Bank is providing 9.0 million dollars while the Government of Ghana is contributing 1.5 million dollars for the project.

So far about 2,5 million dollars of the amount has been disbursed with a further 1,2 million dollars committed to be disbursed under civil works, consultancy services, training and operating costs.

This leaves an undisbursed balance of 5,338,481 dollars.

The project dubbed Fisheries Sub-Sector Capacity Building Project (FSCBP) will enhance man power development of the staff of the Fisheries Department of the Ministry of Food and Agriculture, long-term sustainability of fisheries resources and the entire fishing industry.

The FSCBP has also been designed to enhance reform of the policy, legal and regulatory framework in the fisheries sub-sector to improve management, enhance private investment and promote sustainable catches of fish.

It will also promote the development of aqua culture to supplement and ensure that the necessary ingredients needed to put the fishing sub-sector on the right footing of the national economy are provided.

This was contained in a mid-term review report of the FSCBP for September 1998.

Currently, a team from the World Bank office, Food and Agriculture Organisation, and other government representatives of about 20 under the leadership of Mr Charles Annor Frempong, World Bank Representative and Task Manager of the project are touring the country to assess the progress of the project.

Speaking to GRi in an interview, Mr Annor Frempong said the project is on course and expressed the hope that Ghanaians will give it the needed support.

He said pilot aquaculture centre for the production of fingerlings is under construction at Kona Tano-Dumase in the Ashanti Region and urged the contractor, McDonnel Contract Mining Company to expedite action on the project.

Mr George Hutchful, Project Co-ordinator was however not happy about the dwindling fisheries resources in the country and appealed to fishing communities to abide by fisheries laws and also avoid pollution of water bodies. GRi