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European Union Country Financing Roadmap for the SDGs: Ghana I N S I G H T R E P O R T J U N E 2 0 2 1 Contents 5 Foreword Preface Executive summary 13 1 Ghana overview 20 2 Ghana and the SDGs 28 3 Addressing the SDG financing gap with the Country Financing Roadmap (CFR) 4 Conclusion Appendix A: The World Economic Forum and Ghana 50 Appendix B: Country Financing Roadmaps: country-led and action-oriented Appendix C: Institutional arrangements for SDGs in Ghana Appendix D: SDG costs and financing gap, detailed methodology 57 Endnotes 60 References 62 Contributors and Acknowledgements List of Boxes 35 Box 1: Ghana Infrastructure Investment Fund (GIIF) 36 Box 2: Affordable housing with the National Mortgage and Housing Financing Initiative 40 Box 3: CAP-BuSS and the Ghana Enterprises Agency (GEA) 42 Box 4: Development Bank of Ghana (DBG) List of Figures 13 1 GDP growth (%), 2014–2020 14 2 Domestic revenue ($ billion), 2015–2020 14 3 Domestic revenue-to-GDP, 2015–2020 15 4 Interest payments to total expenditure net lending, 2015–2020 15 5 Debt-to-GDP ratio, 2014–2020 16 6 COVID-19 impact on GDP, revenue and debt 16 7 Fiscal deficit, 2018–2024 17 8 Sectoral distribution of GDP (%), 2013–2019 17 9 Top six sub-sectors (by share of GDP, 2019 current market prices), 2016–2019 18 10 COVID-19 impact on Services, Industry and Agriculture 18 11 FDI inward flows and stock, 2016–2020 19 12 Net Official Development Assistance (ODA) received (current $ million), 2010–2020 21 13 Ghana Beyond Aid vision 22 14 Presidential inaugural address, key priorities 23 15 Progress towards achieving the SDGs 25 16 Sources of SDG funding in Ghana 25 17 Breakdown of SDG funding sources 26 18 SDG financing gap ($ billion), Government of Ghana estimates 29 19 CFR process 46 20 Ghana CFR implementation structure List of Tables 9 1 Summary of SDG cost and financing gap 10 2 Summary of barriers and solutions to sustainable infrastructure financing in Ghana 11 3 Summary of barriers and solutions to