IFC-World Bank to invest $600m in govt’s job creation agenda

The International Finance Corporation (IFC) of the World Bank has announced plans to invest approximately 600 million dollars into Ghana’s private sector to create job opportunities and enhance economic growth.

The investment will focus on the garment industry and agro-processing sectors to support job creation and industrial development.

The Country Director of the IFC, Kyle Kelhofer, disclosed this during a courtesy call on the Majority Leader in Parliament.

“We are here to support the private sector, invest in the private sector, mobilize the private sector, both international and local, and to help create more and better jobs. And what you saw last week at the garment factory was an example of Ghana’s increased ability to take advantage of industrialization to create more and better jobs, and in garments in particular for women.

“This isn’t limited to just garments. It can also be agro-processing, or other forms of industry, but we’re of the view there’s an increased opportunity. And as a result, we’ve been supporting more.

“Last year [2024], we probably mobilized, we financed approximately $450,000,000 for companies in Ghana. This year [2025], we’re targeting approximately 500 to 600,000,000 in Ghana. And whether it’s in things like the industrial zones directly, or industries or factories operating within these zones, or agro-processors operating throughout the country, helping to create more and better jobs.”

The Majority Leader, Mahama Ayariga added that the support would aid the government in delivering on its promises of job creation.

“Clearly, a government will be constrained in terms of the financing of a lot of the commitments that we have made. And so increasingly, we need to be looking at sources like yours and then working with the private sector to be able to create jobs and grow the economy.

“And parliamentarians should be at the forefront of linking industries to funding sources and also trying to shape policy that will enable the development of industries. It will definitely go a long way to help us fulfill our commitment to young people, to create jobs, to grow the economy, and then to create more wealth for us to equitably distribute.”