Ghana develops US$4.28bn water financing framework

Ghana is developing a US$4.28 billion financing framework to address critical water-sector investment needs and strengthen climate resilience.

The framework, being developed under the National Water Investment Programme, is intended to guide priority investments, mobilise public and private financing and improve water resources management.

‎Mr Edwin Kissi Afosah-Anim, Deputy Director of the Water Management Directorate of the Water Resources Commission (WRC) and Ghana’s Focal Point for the Green Climate Fund (GCF), disclosed this at a stakeholders’ validation workshop in Accra.

He said the programme would strengthen the country’s capacity to identify and prioritise critical water investments, mobilise financing and establish a clear pathway for implementation.

Mr Afosah-Anim said it would also help align water-sector investments with national climate and development priorities.

He said the validation workshop provided an opportunity for stakeholders to review the proposed investment plan, financing strategy and implementation arrangements.

Mr Afosah-Anim said inputs from participating institutions would help identify gaps, address emerging issues and improve the final programme.

He urged stakeholders to actively participate in the process.

‎”The quality of the final programme will depend greatly on the depth of our participation and the value of the inputs we provide,” he said.

Mr Afosah-Animsaid countries in the Global South, including Ghana, faced significant challenges in mobilising financing for water and climate-related investments because of high debt burdens, limited fiscal space and complex donor engagement processes.

‎Sector estimates indicate that Ghana requires about US$1.7 billion annually to achieve universal access to water and meet sustainability targets by 2030.

Mr Afosah-Anim said financing for water and climate initiatives should extend beyond government resources, with stronger public-private collaboration needed to bridge funding gaps.

“We are also looking at the private sector to support what we do at the Water Resources Commission.

“We have increasingly engaged civil society organisations and non-governmental organisations to undertake certain activities where public resources may be limited. They provide funding while we contribute technical expertise, enabling us to combine efforts to address some of these financing challenges,” he said.

Ms Eunice Inkum, Principal Economic Officer at the Ministry of Finance and Green Climate Fund representative, said the US$4.28 billion requirement could not be financed by the government alone.

She urged stakeholders to use public resources more effectively to leverage additional financing through stronger engagement with development partners and climate finance institutions.

Ms Inkum also advocated blended finance and, where appropriate, increased private-sector participation.

‎She said the validation process would help strengthen Ghana’s project pipeline and ensure that proposed investments were aligned with national development priorities and realistic within the country’s financing environment.

‎The National Water Investment Programme is expected to provide a framework for identifying priority investments, mobilising financing and strengthening implementation to improve water security and climate resilience.