Announcement of Consultative Group for Ghana on December 16, 1970

INTERNATIONAL BANK FC> • RECONSTRUCTION AND DE\/ 1818 H STREET. N.W .. WASHINGTON D. C. 20433 1c.L.1:.l"'MUNE: EXEcu-iivc: 3-6360 December 16, 1970 Subject: Consultative Group for Ghana The following announcement was issued today at the World Bank's European Office in Paris: "A meeting of the Consultative Group for Ghana was held in Paris on December 15 and 16 7 1970~ under the chairmanship of the World Bank. This was the sixth such meeting of countries and international organizations for the coordination of aid to Ghana. "After a preliminary meeting convened at the request of the Government of • Ghana in London last July, this week's meeting constituted the first comprehensive Consultative Group meeting with the objective to review Ghana's short and long- term development plan and policies, as well as external financing requirements. "In addition to the Bank and Ghana, the following cotmtries and organizations were represented: Canada, Denmark, France, Germany, Israel, Italy, Japan, the United Kingdom and the United States; the African Development Bank, the International Monetary Fund and the United Nations Development Programme (UNDP). The Netherlands, Switzerland and the Organization for Economic Cooperation and Development/Development Assistance Connnittee (OECD/DAC) were represented by observeIS. "The meeting reviewed Ghana's present economic situation and prospects and noted that Ghana is justified in seeking to accelerate development at a pace which should exceed the rate of population growth. To that end Ghana needs domestic and external resources well above those available at present. ·• "The Hon. J .N. Mensah, Minister of Finance and Economic Planning, headed the Ghanaian delegation. The meeting was conducted tmder the chairmanship of Mr. A.G .. El Emary." - 0 -