PIM System to ensure effective implementation of capital projects – World Bank Country Dir

Henry Kerali, Country Director, World Bank

The World Bank’s Country Director, Henry Kareli has expressed optimism about the newly established Public Investment Management (PIM) System, saying, it will ensure effective implementation of capital projects.

Speaking at the launch of the Public Investment Management (PIM) System in Accra, the Country Director said, “this is expected to bring clarity in roles and responsibilities that hinder the effectiveness of implementing capital projects.”

Kerali stated that the system will also help government to focus on high impact capital projects in the midst of scarce resources.

Over the past two years, the World Bank has assisted the government through the Ghana Economic Management Strengthening (GEMS) project, to develop a comprehensive PIM reform strategy and action plan, as well as improving the regulatory and institutional setting for PIM and create the required PIM instruments.

He believes that the system will help resolve most of the existing challenges and enable timely linkage of all capital projects to the national budget.

For a long time, the country has struggled to establish a good and credible public investment management system.

With major capital projects been influenced by political considerations, Kerali said the establishment of an objective PIM system will enable government implement capital projects that balance political, economic and fiscal considerations for the benefit of Ghana.

Most parts of Africa have inadequate infrastructure to move goods and people efficiently within and across national borders. Studies have emphasized Africa’s huge infrastructure gap of US$130-US$170bn a year, which requires significant amount to finance.

A study carried out by a World Bank team indicates that, to address Ghana’s infrastructure deficit the country requires sustained spending of at least US$1.5bn per annum over the next decade to plug the infrastructure gap that exists.

By Joshua W. Amlanu