Ghana and AfDB sign US$71.25M grant to boost youth and women employment
The Government of Ghana has affirm- ed its commitment to accelerating national development through strengthened partnership with the African Development Bank (AfDB), following the signing of a major grant agreement valued at US$71.25 million. The agreement is designed to fund the new Ghana Women and Youth Employment and Social Cohesion (GWYESCO) Project, which seeks to expand economic opportunities and foster social cohesion by prioritizing employment and support for women and youth across the country.
The finance minister, Cassiel Ato Forson, was present at the signing ceremony, and described the project as Ghana’s first Results-Based Financing (RBF) operation backed by the AfDB. He stressed that the initiative aims to break structural barriers that have historically limited women’s and youth’s access to jobs, capital, and skill development.
Under GWYESCO, interventions will include job creation schemes, access to finance for entrepreneurs, targeted skills development, and support for micro, small and medium enterprises (MSMEs). The programme also focuses on boosting social resilience in communities vulnerable to climate-related risks or security challenges. According to the finance minister, the grant will strengthen inclusive economic growth, improve livelihoods, and help reduce poverty among underserved populations.
AfDB’s country director, Fasika Eyerusalem, commended Ghana’s leadership and ownership in designing the programme. She pledged the Bank’s support to ensure the project’s objectives are met, and emphasized that oversight, transparency and accountability will guide implementation.
Observers say the GWYESCO Project could have a far-reaching impact if properly implemented. The focus on women and youth, often vulnerable to unemployment and economic exclusion, is likely to empower a broad segment of the population. Potential outcomes include increased household incomes, expanded business activity, stronger entrepreneurship, and enhanced community cohesion.
Still, experts caution that success will depend on effective execution, robust oversight, and capacity building at local levels. Ensuring that funds reach intended beneficiaries, especially in remote or underserved area, and that opportunities are accessible and equitable will be crucial.
The grant agreement signals renewed optimism in Ghana’s development trajectory. By enabling job creation, supporting entrepreneurship, and investing in human capital, GWYESCO could contribute significantly to economic growth and social stability in Ghana over the coming years.
