Accra: Ghana's Parliament, in partnership with the UK's Foreign, Commonwealth and Development Office (FCDO) and the World Bank, has launched a project to enhance its economic and financial governance capacity. The 'Building the Capacity of Parliamentarians for Economic and Financial Governance' project is backed by £800,000 in funding from the FCDO through the World Bank.
According to Ghana News Agency, the project has key objectives to strengthen parliamentary oversight, improve fiscal management, and deepen the understanding of economic policies among Members of Parliament (MPs). It aims to equip parliamentarians, especially new legislators, with the necessary skills and knowledge to foster effective governance, accountability, and transparent management of public resources.
Mr Alban Sumana Kingsford Bagbin, the Speaker of Parliament, highlighted that the project aims to enhance Parliament's ability to evaluate government expenditures and revenues, assess economic impacts, and ensure alignment with macroeconomic sustainability and inclusive development goals. He noted that the initiative marked a significant step towards fostering good governance and sustainable development in Ghana.
The project will include technical support on economics, Public Financial Management (PFM), tax policy, and administration. Training and capacity building components will develop materials and handbooks for the induction and training of parliamentary committees. Peer learning with other legislatures will also be promoted to enhance parliamentary capacity, transparency, and accountability.
Madam Michelle Keane, Acting World Bank Division Director, expressed the World Bank's support for the initiative, emphasizing the need for parliamentary committees to have the skills to evaluate government expenditures. Mr Keith McMahon, Charg© d'affaires at the British High Commission, reaffirmed the UK's support for Ghana's economic outcomes through this new partnership.
Mr Mahama Ayariga, the Majority Leader, stressed the importance of parliamentary oversight and accountability, advocating for equal resource allocation to committees focused on basic necessities and financial governance. He suggested the establishment of an independent media house to promote transparency through live coverage of committee hearings.
Osahen, Alexander Afenyo-Markin, the Minority Leader, emphasized the importance of parliamentary oversight in economic growth and human development. He noted that the project would deepen MPs' understanding of fiscal discipline and public expenditure accountability, building on the work of existing committees like the Public Accounts Committee and Finance Committee.
The Committees to benefit from this support include Finance, Budget, Economy and Development, Assurances, and Public Accounts. Support is also envisioned for the newly created Office for Parliamentary Analysis and the Citizens' Bureau.