With support from the African Development Bank, Ghana has launched a $71 million initiative to reduce unemployment among women and youth and strengthen social cohesion, the Finance Ministry said Monday.
The Ghana Women and Youth Employment and Social Cohesion (GWYESCO) Program is the country’s first to use results-based financing. Funds will be disbursed based on verified outcomes rather than inputs, a model aimed at improving transparency and accountability.
Finance Minister Cassiel Ato Forson signed the grant agreement on Monday in Accra with the African Development Bank, represented by Country Director Fasika Eyerusalem.
He said the program is a key part of Ghana’s national development strategy and will focus on job creation, entrepreneurship support, skills training, and access to finance, especially in underserved communities.
Forson said women and youth remain central to Ghana’s economic future but continue to face structural barriers including high unemployment, limited access to capital, and inadequate skills training.
The program also aims to strengthen the resilience of communities facing climate and security-related risks.
The African Development Bank approved the grant earlier this year. Eyerusalem praised Ghana’s leadership in the design of the program and reaffirmed the Bank’s commitment to supporting its implementation.
The launch event brought together officials from the Ministry of Finance, the Social Investment Fund, and representatives from the African Development Bank.
Ghana expects the program to create jobs, raise household incomes, and expand economic opportunities while building stronger local institutions for long-term development.
