Omanghana
Deputy Finance Minister Thomas Nyarko Ampem has called for greater private-sector investment in Ghana’s climate programs, saying government resources alone cannot meet the scale of funding required.
Speaking at the Green Climate Fund’s Regional Dialogue for West and Central Africa in Accra, he said national budgets were already stretched by competing demands for education, healthcare, infrastructure and social protection.
He urged governments to use public and concessional financing to attract additional investment into climate projects rather than attempting to fund every intervention themselves.
Ampem said this approach would require stronger project preparation, measures to reduce investment risks and appropriate guarantees to make projects commercially attractive.
“Public finance cannot carry this agenda alone,” he said.
He argued that success should be measured not only by the climate funding secured, but also by the additional capital it attracts and the economic opportunities it creates. Climate finance, he said, should support wider development goals alongside environmental protection.
Ghana’s GCF portfolio currently comprises 13 projects supported by approximately US$209 million in financing, with a further US$5.7 million in approved readiness support.
GCF Africa Regional Director Catherine Koffman commended Ghana’s efforts to integrate climate finance into its economic transformation agenda. She highlighted the country’s revised Climate Prosperity Plan and Climate-Resilient Investment Platform as steps towards attracting public and private investment at a larger scale.
The four-day dialogue brings together governments, financial institutions and private-sector partners from 25 countries to explore ways of improving access to climate finance.
According to the GCF, it has committed approximately US$2.9 billion to 80 projects and programs across West and Central Africa. The discussions aim to build on that support by strengthening investment partnerships across the region.
Source: Omanghana
