Ghana implements aid policy
Ms. Mary Ann Addo, Director of the Multilateral Division of the External Resource Mobilization of the Ministry of Finance and Economic Planning (MoFEP), says Ghana has started the implementation of an aid policy, to ensure that aid is managed and monitored properly.
According to her the policy, which spans 2011-2015, will help the country to track the progress of both Ghana and development partners on their commitments to aid effectiveness.
Ms. Addo announced this to a cross-section of journalists at Akosombo, in the Eastern Region, at a forum on Aid Effectiveness, adding that the new aid policy was fashioned after the objectives of the Paris Declaration on Aid Effectiveness and will ensure that all programmes and projects submitted by Ministries, Department and Agencies, (MDAs) were costed.
She pointed out that the aid policy will be implemented for a couple of years after which a review will be conducted to provide a “clear picture of how we want to wean ourselves off aid”.
MoFEP officials on their part added that the aid policy will also assist Ghana to seek more grants, concessionary loans, whilst helping the nation to eventually become less aid-dependent.
The Aid Policy is important to make aid work properly for Ghana as the Paris Declaration seeks to achieve.
The Declaration spelt out new aid architecture for recipients in developing countries and member countries of the Organization of Economic Co-operation and Development (OECD).
Additionally, the new aid architecture requires that donor partners use the systems of the recipient countries to deliver aid and not rely on systems pertaining to and prevailing in the country offering the development assistance.