Ghana’s Parliament has launched a major initiative to enhance its capacity for economic and financial governance, in collaboration with the UK’s Foreign, Commonwealth and Development Office (FCDO) and the World Bank.
The project, titled “Building the Capacity of Parliamentarians for Economic and Financial Governance,” is supported by £800,000 in funding from the FCDO through the World Bank.
Its core objectives include strengthening parliamentary oversight, improving fiscal management, and deepening Members of Parliament’s (MPs) understanding of economic policies. The initiative also aims to equip especially new legislators with the skills and knowledge required to promote effective governance, accountability, and transparent management of public resources.
Speaking at the launch on Wednesday at Parliament House, Speaker of Parliament Rt. Hon. Alban Sumana Kingsford Bagbin described the project as a significant step towards good governance and sustainable development. He noted that it reflects the confidence of development partners in Ghana’s commitment to bolstering democratic institutions and ensuring economic resilience.
“The project will enhance Parliament’s ability to evaluate government revenue and expenditure, assess the economic and distributional impact of fiscal decisions, and ensure alignment with medium-term macroeconomic sustainability and inclusive development goals,” the Speaker said.
Over the next 18 months, the initiative will deliver technical support to key parliamentary bodies, providing expert assistance in economics, public financial management (PFM), tax policy, and administration. It will also include training and capacity-building sessions, with the development of toolkits, handbooks, and induction materials for MPs and committee members.
Another key component is the promotion of peer learning with other legislatures to improve transparency and accountability, while increasing awareness and usage of publicly available fiscal information by the media and civil society.
Acting World Bank Country Director, Madam Michelle Keane, emphasized the importance of equipping parliamentary committees with the tools they need to effectively scrutinize government fiscal decisions.
“Members of Parliamentary committees require the necessary skills and knowledge to evaluate the allocation and use of public resources,” she stated.
Mr. Keith McMahon, Chargé d’Affaires at the British High Commission, reaffirmed the UK’s support, saying: “We firmly believe that Ghana’s prosperity must be driven by Ghanaians and their elected representatives. We are proud to support both the public and parliamentarians in achieving the best economic outcomes through this partnership.”
Credit: myjoyonline.com
