Ghana African Development Bank Country Strategy Paper, 2024-2029

The African Development Bank (AfDB) has unveiled its new Country Strategy Paper (CSP) for Ghana (2024-2029), outlining strategic priorities aimed at fostering economic resilience, industrialization, and regional integration. The CSP highlights two priority areas for Ghana over the next five years which are to support industrialization and private sector development. This initiative aims to enhance job creation, improve agricultural productivity, and strengthen value chains, particularly in agro-industrial sectors. The AfDB will also focus on developing sustainable transport infrastructure for regional integration and trade. To boost trade and economic connectivity, the AfDB will invest in improving Ghana’s transportation networks, facilitating cross-border trade, and strengthening resilient infrastructure.

The CSP was developed against the backdrop of Ghana’s economic challenges, including an economic downturn, external debt distress, and slow structural transformation. Despite impressive economic growth in past years, Ghana continues to grapple with high youth unemployment and income inequality. The AfDB’s interventions will support Ghana in building a resilient economy through private sector-led industrialization, enhanced connectivity, and creation of employment opportunities. 

The Bank will also integrate cross-cutting themes such as economic governance, digitalization, and financial inclusion into all its initiatives. A transformative program worth USD 53 million will support youth entrepreneurship, digital skills development, and job creation, reinforcing Ghana’s vision for a sustainable economy.

For 2024-2029, the Bank’s indicative lending program indicates that 34 percent of sovereign disbursements will go to transport projects, including the Abidjan Lagos Corridor Highway Project, the Accra Urban Transport Project (USD 58 million) and the Eastern Corridor Road Development (USD 53 million).

The 2024-2029 AfDB Country Strategy for Ghana is expected to create new procurement opportunities for U.S. firms looking to do business in Ghana. Companies with expertise in infrastructure, agribusiness, energy, design and construction, and consulting services can reach out to our CS AfDB office to learn more about opportunities to do business with the African Development Bank in Ghana. For further information please contact Senior Commercial Officer Ashley Ndir at Ashley.Ndir@trade.gov and Commercial Specialist Elvire Kodio at Elvire.Kodio@trade.gov.