• Live Radio
  • Videos
  • About
  • Contact
  • Despite Media
Ghana Election 2020
  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • VIDEOS
  • Media
    • Videos
    • Audio
    • Live Radio
    • Photos
  • Election 2020
Local News
 
 
 
Home Business Business News 202204

World Bank Supports Government With GH₵42 Million To Pay LEAP Arrears

05-Apr-2022
/ Business News, Business
Email
Print
Comments 1
(1)
Comments
Share on Facebook Share on Twitter
 

The World Bank has released GH₵ 42 million through the Ghana Productive Safety Net Project 2 (GPSNP 2) to support the government to pay two cycles of arrears of the Livelihood Empowerment Against Poverty (LEAP) for 344,000 beneficiary households.

The ongoing global economic challenges, which have been worsened by the COVID-19 pandemic, have increased the economic strain domestically, leading to progressive delays in LEAP payments.

A statement issued in Accra said this had in turn impacted LEAP beneficiaries, notably the poor and vulnerable who naturally suffer the most.

“We are happy to support in the interest of beneficiaries to assist the government with the LEAP payments to avoid eroding gains made over the years and safeguard beneficiary households’ wellbeing and their resilience to shocks,” it said.

Mr Pierre Laporte, the World Bank Country Director for Ghana, Liberia and Sierra Leone, said these payments would be completed in April 2022 and would help cushion the government in the interim as efforts were made to identify and provide sustainable, and reliable funding for the LEAP programme and social protection interventions, in general.

The LEAP programme is one of the Government of Ghana’s flagship social protection programs, initiated in 2008.

The programme seeks to smoothen consumption of targeted extreme poor households, specifically focusing on poor within the following categories: orphans and vulnerable children, the elderly (65years and above) severely disabled, and pregnant women or mothers with children under one year.

It also aimed to increase access to basic social services like healthcare through the enrollment on the National Health Insurance Scheme, as well as boost human capital by encouraging beneficiary households to enroll their school-going aged children in school.

It said per the Ghana Productive Safety Net Project (GPSNP) 2 programme design, beneficiary households receive cash grants through electronic payments every two months and the cash benefit sizes differ, depending on how many persons in the household are considered eligible to receive the grant.

The benefit ranges from GH₵32 to GH₵53 per eligible beneficiary, per month.

The statement said over the years, the government had progressively increased the programme’s beneficiary reach from 1,645 beneficiary households in a few districts at initiation in 2008, to a current reach of 344,023 beneficiary households in all districts across the country.

Additionally, the government had demonstrated its commitment to the programme’s implementation by progressively increasing its contribution to the program.

It is currently funding approximately 80 percent of the total funding of the programme, with development partners’ support comprising the remaining 20 percent.

It said particularly within global economic downturns, such as the current one on the back of the COVID-19 pandemic, it would be important for the government to identify ring-fenced funding to ensure regular payments of social welfare programmes.

The World Bank remained committed to working with the government, through both technical and financial support, in its agenda to support the poor and vulnerable populations, through needed social assistance programming.

Source: GNA

 

 
 

 

Comments ( 1 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.
Featured Video
Previous Post

Prudential Ghana Donates GHS 700,000 To Covid-19 Relief Initiatives

Next Post

Elon Musk Buys $3bn Worth of Shares In Twitter, Becoming The Company's Largest Shareholder

 
 

More Stories

Two Local Biscuit Manufacturers Lock Horns In Trade War Over Trademarks
Ghana To Become First African Country To Issue FLEGT License
Tullow Drives Local Participation In Oil And Gas Sector
CIMG Customer Satisfaction Index: UMB And 4 Other Banks Lead The Way In Customer Service In Ghana
Global Finance Must Transform To Address Africa's Climate Challenge - Ofori-Atta Urges
Vodafone Director Calls On SMEs To Seize Opportunities At Upcoming Business Runway Event
AGI Urges Government To Incentivize Production
Understand The Nature Of Assets Before Investing – George Allotey
Investing With Purpose: A Guide To Aligning Investment Objectives With Financial Goals
Next Post

Elon Musk Buys $3bn Worth of Shares In Twitter, Becoming The Company's Largest Shareholder

  Ghana Business News

  • General News
  • Economy
  • Banking & Finance
  • Stock Market
  • Industry/Manufacturing


 
 

Other Business News Stories

  • Two Local Biscuit Manufacturers Lock Horns In Trade War Over Trademarks

  • Ghana To Become First African Country To Issue FLEGT License

  • Tullow Drives Local Participation In Oil And Gas Sector

  • CIMG Customer Satisfaction Index: UMB And 4 Other Banks Lead The Way In Customer Service In Ghana

  • Global Finance Must Transform To Address Africa's Climate Challenge - Ofori-Atta Urges

  • Vodafone Director Calls On SMEs To Seize Opportunities At Upcoming Business Runway Event

  • AGI Urges Government To Incentivize Production

  • Understand The Nature Of Assets Before Investing – George Allotey

  • Investing With Purpose: A Guide To Aligning Investment Objectives With Financial Goals

  • Leverage Microfinance Wins 'Microfinance Company Of The Year, 2022' At The 4th Ghana Credit Excellence Awards

 

 
 

Popular Videos

Kokrokoo Discussion Segment On Peace 104.3 FM (26/09/2023)

Kokrokoo Discussion Segment On Peace 104.3 FM (28/09/2023)

Alan's Resignation From NPP - Allotey Jacobs Makes Another Confession

Peace Power Sports (26/09/2023)

Kokrokoo Live On Peace 104.3 FM (26/09/2023)

Kokrokoo Live On Peace 104.3 FM (27/09/2023)

Peace FM Online and Despite Media

peacefmonline.com offers its reading audience with a comprehensive online source for up-to-the-minute news about politics, business, entertainment and other issues in Ghana

Follow us on social media:

Category

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Opinion
  • Trivia
  • Foreign
  • Audio
  • Photos
  • Videos
  • Elections
Decision Time
Ghana Election 2020 2016 Elections
Services
Live Radio Audio on Demand Ghana Elections Advertise with Us
Useful Links
Despite Media About Us Contact Us Feedback Form Terms and Conditions Privacy
Our Brands
Despite Media UTV Peace FM Okay FM Hello FM Neat FM Peacefmonline
  • About
  • Advertise
  • Terms & Conditions
  • Contact
  • Privacy

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media

  • Home
  • Local News
  • Politics
  • Showbiz
  • Sports
  • Business
  • Articles
  • Trivia
  • Foreign
  • Live Radio
  • Photos
  • Videos
  • Audio
  • Election 2020

© 2020 Peacefmonline.com - An online portal owned and managed by Despite Media