• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

$17 Billion in Concessional Loans and Grants Extended to Ghana, 3 Other African Countries in 3 Years – World Bank Says

12 months ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
328
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

$17 Billion in Concessional Loans and Grants Extended to Ghana, 3 Other African Countries in 3 Years – World Bank Says

The World Bank has extended $17 billion in financial support to Ghana, Chad, Ethiopia, and Zambia, all of which are part of the G20 Common Framework for Debt Treatments.

The funds, distributed via the International Development Association (IDA), are composed of equal parts concessional loans and grants, according to World Bank President Ajay Banga.

Without this assistance, Mr Banga noted, these countries would have faced acute financial hardship.

Speaking at the opening of the October 2024 Annual Meetings of the IMF and World Bank, Mr Banga underscored that the World Bank has been the one of the major sources of external financing for these nations over the past three years.

“We’ve given them $17 billion, about half in concessional loans and half in grants. Without that, they would be under severe stress and have no lifeline,” he said.

The World Bank is now aiming to raise an additional $100 billion from wealthier donor nations to further bolster IDA’s capacity.

RelatedPosts

‘The Gulf of Guinea is our Wall Street, IMF, and World Bank Combined’, Says Air Vice Marshal Hanson 

GJA President Underscores Vital Role of Journalists in Safeguarding Ghana’s Maritime Domain

Barrick Exits Ivory Coast With $305 Million Tongon Mine Sale

Denmark has already announced a 40% increase in its allocation, while the UK and Spain are expected to follow suit with substantial contributions.

However, countries such as France, Germany, and Japan face fiscal and political challenges amid currency depreciation pressures that could limit their ability to raise funding commitments.

The $100bn funds are part of a broader effort by the World Bank to support heavily indebted low-income countries navigating the G20’s Common Framework, which seeks to address debt vulnerabilities in an era of rising global borrowing costs.

Tags: $17 Billion in Concessional Loans and Grants Extended to Ghana3 Other African Countries in 3 Years - World Bank Saysand ZambiaChadEthiopiaghanaIDAWorld Bank

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

No Result
View All Result

Highlights

Sub-Saharan Africa’s Growth to Accelerate to 3.8% in 2025 Amid Inflation Easing – World Bank

Sub-Saharan Africa Maintains Resilient Growth but Faces Urgent Jobs Challenge

Value or Illusion? Questioning the DStv “Increased Value Offer”

Inflation is Falling, But the Relief isn’t Uniform

Poultry Programme: Production and Processing Must Grow Hand-in-Hand

CAF Declares $9.48 Million Profit as Financial Turnaround Under Dr. Patrice Motsepe Gains Momentum

Trending

Business

‘The Gulf of Guinea is our Wall Street, IMF, and World Bank Combined’, Says Air Vice Marshal Hanson 

October 7, 2025

‘The Gulf of Guinea is our Wall Street, IMF, and World Bank Combined’, Says Air Vice Marshal...

GJA President Underscores Vital Role of Journalists in Safeguarding Ghana’s Maritime Domain

October 7, 2025

Barrick Exits Ivory Coast With $305 Million Tongon Mine Sale

October 7, 2025

Sub-Saharan Africa’s Growth to Accelerate to 3.8% in 2025 Amid Inflation Easing – World Bank

October 7, 2025

Sub-Saharan Africa Maintains Resilient Growth but Faces Urgent Jobs Challenge

October 7, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.