[{"bbox": [96, 152, 1164, 578], "category": "Text", "text": "The second Specific Objective is to develop a greener, digitalised and more inclusive private sector in Ghana (including in the creative and heritage, healthcare and pharmaceutical industries). In line with the external dimension of the European Green Deal agenda, one of the EU priorities for cooperation in Ghana is to boost green employment and enterprise opportunities for women and men by promoting and supporting sustainable and green businesses. Therefore, the second specific objective of this action will support development of a sustainable, green and inclusive private sector (such as in the health and pharmaceutical, as well as creative and heritage industries, including in the areas of tourism and ecotourism). All sectors of the economy will be eligible for support from the action, as long as activities lead to business opportunities that limit the negative impact on climate or the environment, i.e. business plans involving reduction of greenhouse gas emissions, waste and pollution. Entrepreneurs already engaged directly in green sectors (or planning to be), such as renewable energy, waste disposal etc., will naturally be eligible for support as well. This action will therefore incentivise businesses to learn about and pursue opportunities contributing to climate change mitigation as well as adaptation (through decreased pollution and business methods and services adapted to a changing climate). Actions involving digitalisation of business methods or business ideas targeting digital products and services will also eligible. This is in line with the European Commission's objectives related to supporting digitalisation throughout. In other words, businesses' digitalisation can be supported, regardless of sector of the economy."}, {"bbox": [96, 606, 1164, 821], "category": "Text", "text": "The second specific objective, related to a greener, digitalised and more inclusive private sector, will expand EU engagement in sectors with strong opportunities for value and job creation, climate mitigation and climate adaptation, social cohesion, and digitalisation. This will be achieved through three major outputs: i) access to innovative and inclusive finance for digital, green and circular initiatives; ii) support to business regulatory environment and ecosystem for digital, green and circular initiatives; iii) entrepreneurs' capacity building for the application of green and digital technologies. The action will support the development of private sector opportunities, especially those with innovative and sustainable business models (such as e-service and e-commerce), green-tech, fin-tech, health-tech, art-tech etc., other sustainable initiatives, and ownership by entrepreneurs, who involve women and youth."}, {"bbox": [96, 849, 1164, 1144], "category": "Text", "text": "The specific objective on greened and digitalised, inclusive PSD will create synergies with the ‘Pact4Skills’ action, in particular its result 3.3: “To improve the skills of employment seekers in the areas of digital, green, and pharmaceutical technology”. In this regards, there could be synergies with the new regional TEI ‘Opportunity-driven skills and VET in Africa’ (OP-VET) as well as the regional TEI on ‘Manufacturing and Access to Vaccines, Medicines and Health Technologies (MAV+)’. There may also be synergy opportunities with the action ‘Support to Green Transition and Agribusiness’ (AAP2023, the overall objective of which is to accelerate the transition of Ghana’s agricultural sector towards sustainability, resilience, inclusivity and food security. The PSD component will support green entrepreneurs, including in the agricultural sector) as well as the action on Modernisation of electricity distribution network in Northern Ghana (AAP2022). Ensuring synergies with evidence-based research will be important as well, particularly to better know how to promote a sustainable private sector in the identified areas where Ghana has a strong potential, such as the pharmaceutical and health sectors."}, {"bbox": [96, 1168, 1164, 1249], "category": "Text", "text": "This action will contribute to a number of Gender Action Plan (GAP) III priorities, in particular “Strengthening economic and social rights and empowering girls and women” and “Addressing the challenges and harnessing the opportunity of the green and digital transition”."}, {"bbox": [85, 1282, 323, 1314], "category": "Section-header", "text": "# 2 RATIONALE"}, {"bbox": [85, 1348, 234, 1375], "category": "Section-header", "text": "## 2.1 Context"}, {"bbox": [96, 1393, 1164, 1633], "category": "Text", "text": "Ghana is home to a population of 32.8 million people with youth (aged between 15 and 34) representing more than 35.1% of the population. The majority of Ghanaian youth are employed in the informal sector and 16.9% are estimated to be unemployed. In the prior years, the country's economy was one of the fastest growing in Africa, with a GDP Growth Rate averaging 4.9% over the six years preceding COVID-19, peaking at 8.1% in 2017. Following a period of economic turbulence after the discovery of oil and gas in 2007, a concerted fiscal consolidation programme between 2015 and 2018 helped narrow the headline fiscal deficit to below 5% of GDP. Ghana successfully completed an IMF program in 2019 focused on restoring macroeconomic stability and has been on a Post Program Monitoring and Article IV consultation cycle since then. Most recently, the COVID-19 pandemic, the global crisis provoked by the Russian invasion of Ukraine have created difficulties for Ghana to maintain a healthy fiscal space. Difficulties to mobilise"}, {"bbox": [1038, 1680, 1144, 1706], "category": "Page-footer", "text": "Page 5 of 30"}]