Home / Education / Government to borrow $40m to support secondary educational projects

Government to borrow $40m to support secondary educational projects

Mathew Opoku Prempeh, Education Minister

The Akufo-Addo led-government is to borrow an amount of $40 million from the International Development Association (IDA) as additional financing for the Ghana Secondary School Education Improvement Project.

The Financing Agreement between the Government of the Republic of Ghana and the IDA for an amount equivalent to Twenty-eight million,

nine hundred thousand Special Rights (SDR 28,900,000 [US$40.0 million equivalent] is currently being studied by the Finance Committee of Parliament before its presented to the plenary for approval.

The development objective of the Secondary Education Improvement Project for Ghana is to increase access to senior secondary education in underserved districts and improve quality in low-performing senior high schools in Ghana. The project comprises of two components.

The first component, support to increase access to equity and quality in senior high schools (SHS) uses a results-based financing (RBF) modality. Disbursements up to a capped absolute amount will be made against specific line items in the education sector annual budget, referred to as eligible expenditure programs (EEPs).

Policies and interventions to be supported are grouped into two pillars: (i) increasing access with equity (geographic, gender, poverty, etc.); and (ii) improving quality of selected low performing SHS.

The second component, management, research, and monitoring and evaluation aims to strengthen the implementation capacity of the Ministry of Education (MOE) and Ghana Education Service (GES) and its related implementing agencies and assist them to achieve the objectives of the government’s SHS strategy.

This component will support monitoring and evaluation (M and E), coordination, planning, communication, financial management, procurement, and safeguards.

Source: kasapafmonline.com

About Efo Korsi Senyo

Efo Korsi Senyo has over 4 years experience working as investigative journalist with Awake Africa. He is the Head of Awake Investigates. Connect with him via senyo@awakeafrica.com or WhatsApp: +233249155003

Leave a Reply

Your email address will not be published. Required fields are marked *