Ghana Covid-19 Alleviation and Revitalization of ...

1 Ghana Covid-19 Alleviation and Revitalization of Enterprises SupportMinistry of Finance: Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond Aid @MoF_Ghana @ministryoffinanceghanaMinistry of Finance: Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidiiGhana Covid-19 Alleviation and Revitalization of Enterprises SupportMinistry of Finance: Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidiiiAbbreviations and Acronyms ..vForeword ..xMessage from the Minister for Finance ..xiiiExecutive Summary ..xvBackground.

2 XvImmediate Government Response to Covid-19 ..xvHighlights of Ghana CARES Obaatanpa Programme ..xviStabilize the Economy (July December 2020)..xviRevitalize and Transform the Economy (2021 - 2023)..xviiiGhana CARES and Jobs ..xxGhana CARES will create jobs and in particular help us address our youth unemployment problem..xxGhana CARES OBAATAN PA Programme and Ghana Beyond Aid Agenda ..xxi1 | Context ..2 Introduction ..2 Immediate Government Response to Covid-19 ..2 Consultations for the Ghana CARES Obaatanpa Programme ..32 | Stabilizing the Economy ..6 Objectives ..6 Temporary reduction in the cost of basic services.

3 6 Ensuring Food Security ..6 Support Businesses and Workers ..7 Strengthening the Health System ..8 Passing Urgent Legislation ..9 ContentsMinistry of Finance: Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidivContents3 | Revitalization and transformation ..11 Objectives ..11 Ghana CARES and Jobs ..11 Supporting commercial Farming and Attracting Educated Youth into Agriculture ..12 Building Ghana s Light Manufacturing Industry ..12 Agro-processing and food import substitution (rice, poultry, cassava, sugar, tomatoes) ..12 Pharmaceuticals ..14 Textile & Garments.

4 14 Technology and Digital Economy (Machine Tools, ICT/Fintech/BPO) ..15 Fast Tracking Digitization ..15 Housing and Construction ..16 Ghana as a Regional Hub ..16 Growth-Promoting Government Flagships and Key Programmes ..174 | Enablers of transformation ..19 Access to Finance ..19 Improving the Business Environment and Supporting SMEs ..20 Skills for Jobs ..20 Energy Sector Reforms ..205 | Financing ..23 Objectives ..23 Current Realities ..23 Public Sector Financing of Ghana CARES ..23 Private Sector Financing of CARES ..246 | Implementation ..27A New Way of Doing Business ..27 Annex.

5 30 Ministry of Finance: Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidvAbbreviations and Acronyms1D1F1 District 1 FactoryADBA griculture Development BankAfCFTA Africa Continental Free Trade AreaAFD AfDBAgence Fran aise de D veloppement / French Development Agency African Development BankALSF African Legal Support FacilityAPI Active Pharmaceutical Ingredients (API)ATL Akosombo Textile LimitedBoG Bank of GhanaBPO Business Process OutsourcingBRR Business Regulatory ReformCAP Coronavirus Alleviation ProgrammeCAP-BuSS CARESC oronavirus Alleviation Programme - Business Support Scheme Covid-19 Alleviation and Revitalization of Enterprises SupportCEO Chief Executive OfficerCOVID Corona Virus DiseaseCPESDP CSIRC oordinated Programme of Economic and Social Development PoliciesCentre for Scientific and Industrial ResearchCST Communications Service TaxCWM Cash Waterfall MechanismDACF District Assembly Common FundDBG Development Bank.

6 GhanaDFI Development Finance InstitutionsDfID Department for International DevelopmentDPO Development Policy OperationECG Electricity Company of GhanaEHP Emergency Health ProgrammeEIB European Investment BankEPRP Covid-19 Emergency Preparedness and Response PlanMinistry of Finance: Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidviAbbreviations and AcronymsERC Covid-19 Economic Recovery CommitteeESRP Energy Sector Recovery ProgrammeFBOsFaith-Based OrganizationsFDA Food and Drugs AuthorityFDI Foreign Direct InvestmentFHs Finance HousesFINTECH Financial TechnologyGACC GBAG hana American Chamber of Commerce Ghana Bankers AssociationGBAA Ghana Beyond Aid AgendaGBAC Ghana Beyond Aid CharterGCAP Ghana Commercial Agriculture ProjectGCC Ghana Chamber of CommerceGCF Ghana Century FundGCX Ghana Commodity ExchangeGDP Gross Domestic ProductGEA Ghana Employers

7 AssociationG-EBO Ghana -European Business OrganizationGETP Ghana Economic Transformation ProjectGFL Ghana Federation of LabourGFZA Ghana Free Zones AuthorityGHF Ghana Healthcare FoundationGhLIB Ghana Land Information BankGHS Ghana CediGIADEC Ghana Integrated Aluminium Development CorporationGIC/TEMASEK Government of Singapore Investment CorporationGIIF Ghana Infrastructure Investment FundGIISDEC Ghana Integrated Iron and Steel Development CorporationGIPC Ghana Investment Promotion CentreGIRSAL Ghana Incentive-Based Risk-Sharing System for Agricultural Lending ProjectGJSP Ghana Jobs and Skills ProjectGRA Ghana Revenue AuthorityMinistry of Finance.

8 Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidviiAbbreviations and AcronymsGRATIS Ghana Regional Appropriate Technology Industrial ServiceGSA Ghana Standards AuthorityGSs Gas SuppliersGTP Ghana Textile PrintingHQCF High Quality Cassava FlourHSTP Hsinchu Science and Technology ParkICT Information Communication TechnologyIFSC International Financial Services CentreIMC Implementation Monitoring CouncilIMF International Monetary FundIPPs Independent Power ProducersITRI Industrial Technology Research InstituteKfW KISTK reditanstalt Fuer Wiederaufbau / German Development Cooperation Korean

9 Institute of Science and TechnologyKPIs Key Performance IndicatorsKSFL Komenda Sugar Factory LimitedMDAs Ministries, Departments and AgenciesMELR Ministry of Employment and Labour RelationsMESTIMLFNRM inistry of Environment, Science Technology and Innovation Ministry of Lands, Forestry and Natural ResourcesMoF Ministry of FinanceMoFA Ministry of Food and AgricultureMoH Ministry of HealthMoTI Ministry of Trade & IndustryMSMEs Micro, Small and Medium EnterprisesNAFCO National Food Buffer Stock CompanyNBSSI National Board for Small Scale IndustriesNHIA National Health Insurance AuthorityNHIS National Health Insurance SchemeNITA National information Technology AgencyNMIMR Noguchi Memorial Institute for Medical ResearchMinistry of Finance.

10 Professional, Ethical, Efficient, Responsive Transforming Ghana Beyond AidviiiAbbreviations and AcronymsOLEM Other Loans Especially MentionedPDS Power Distribution ServicePEF Private Enterprise FoundationPFJ Planting for Food and JobsPFMA Public Financial Management ActPhPIPetroleum hub and Petrochemical IndustryPPEP ersonal Protective EquipmentPPPP ublic Private PartnershipQIAQ atar Investment AuthorityRCBsRural & Community BanksRCFR apid Credit FacilityRFJR earing for Food and Jobs ProgrammeS & lSavings and Loans CompaniesSHSS enior High SchoolSMEsSmall and Medium EnterprisesSOEsState-Owned EnterprisesSRIDS