UN commits $130m to aid economy’s COVID-19 recovery

UN Resident Coordinator, Charles Abani

The United Nations is set to provide US$130million to support Ghana’s efforts to recover from the socio-economic impact of the COVID-19 pandemic.

“The United Nations in Ghana, through its country preparedness and response plan, has launched a social and economic response initiative which has repurposed US$90 million over the next 12 months to really help Ghana on its journey to recover and build back better.

In addition, we are mobilising US$40 million more to support key instant areas, health, protection and economy recovery,” Charles Abani UN Resident Coordinator said.

He was speaking at the launch of an economic recovery programme dubbed ‘For Better Business Together (4BBT)’ which is aimed at advancing the United Nations’ Sustainable Development Goals and strengthening business opportunities in Ghana.

“We need each other to recover and build back better. We need multilateralism, we need collaboration within countries, between countries and in the global system to be able to get there,” Mr Abani added.

According to him, the 4BBT economic recovery programme which is an initiative that came to fruition with the collaboration between the Ministry of Business Development, the International Chamber of Commerce (ICC), United Nations Development Programme (UNDP) and the Business for Peace Foundation (BPF) could not have come at any better time.

“The For Better Business Together initiative is beyond an idea and a vision: it is a movement that must be take forward as we work to see Ghana grow, become resilient and move beyond aid,” he added.

The support from the United Nations is coming on the back of a €92.9 million budget support financing agreement signed last week between European Union and the Government of Ghana (GoG) to assist the country in its response to the COVID-19 pandemic as well as beef up security operations in the northern part of the country.

Out of this special emergency budget support, which would be a one-time disbursement, €87 million will be dedicated to the COVID-19 crises and support the state’s efforts at addressing the economic and fiscal impact of the pandemic with the €5.9 million to be dedicated to preventing electoral violence and providing security to the northern border regions of the country.

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