World Bank to Disburse Additional $1 Billion to Support Ghana’s Economic Stabilization Efforts
The World Bank is set to disburse an additional $1 billion over the next 12 months to bolster Ghana’s economic stability and support private sector growth.
This follows $1.6 billion already allocated since last year to aid the country’s economic recovery.
Robert O’Brien, the World Bank’s Country Director for Ghana, disclosed on PM EXPRESS BUSINESS Edition on Thursday, August 15, that the Bank is satisfied with Ghana’s economic stabilization measures, which have influenced continued support for budgeted projects and poverty reduction initiatives.
In addition to the $1bn, the World Bank Group has earmarked $5 billion for social intervention and infrastructure projects in the country.
Mr O’Brien noted that the Bank will soon review further funding proposals, including a second Development Policy Operations, which could result in additional financial support.
Over the past year, some $1 billion has been disbursed from an allocated $4.4 billion with $800 million approved in June for further economic assistance.
The World Bank Country Director for Ghana speaking in the interview, stressed the importance of fiscal discipline and economic growth to sustain the recovery, and affirmed the World Bank’s commitment to providing technical support to ensure the success of ongoing reforms.
