The World Bank Group says it has an established longstanding relationship with Ghana despite the passage of the Human Sexual Rights and Ghanaian Family Values Bill by Parliament.
This follows recent speculation that the World Bank Group may reduce aid and development assistance to Ghana if the bill is assented into law.
The Finance Ministry in a statement warned President Akufo-Addo of a potential loss of over $3 billion in World Bank funding for various programs and projects.
However, a spokesperson from the World Bank clarified that the institution does not recognize the recently passed bill as a reason for altering cooperation with Ghana on development programmes. The spokesperson emphasized that the partnership between the World Bank and the Republic of Ghana remains productive.
“The World Bank Group has a longstanding and productive relationship with Ghana,” the spokesman said.
In response to inquiries regarding the passage of the Human Sexual Rights and Ghanaian Family Values Bill, the World Bank stated that it cannot comment on specific legislation.
“The Bill has not yet been signed into Law. We generally do not comment on Bills”.
As of now, it is uncertain whether the financial institution will take any punitive measures if the bill is fully enacted.
Meanwhile, Economist Prof. John Gatsi believes that Bretton Woods institutions cannot penalize Ghana by withdrawing financial assistance to the country based on issues such as passing a law against LGBTQ+.
The Dean of the University of Cape Coast (UCC) Business School made the argument after the Finance Ministry wrote to President Akufo-Addo, on March 4, advising him to defer the signing of the passed anti-LGBTQ+ Bill into law.
Parliament passed the Proper Human Sexual Rights and Ghanaian Family Values Bill, on Wednesday, February 28.
President Akufo-Addo has yet to assent to the Bill, which has garnered a lot of conversation and opposition.
The President reassured the international community of Ghana’s commitment to upholding human rights despite the recent passage of the Proper Human Sexual Rights and Ghanaian Family Values Bill, popularly known as the Anti-LGBTQ+ Bill.