• 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 Banking & Finance

World Bank commits $250m to Ghana’s Financial Stability Fund

2 years ago
in Banking & Finance, Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
126
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

World Bank commits $250m to Ghana’s Financial Stability Fund 

The World Bank has committed $250 million to Ghana’s Financial Stability Fund, according to a statement by the country’s Finance Minister, Ken Ofori-Atta. The fund is being established to ensure that the government can intervene in case of solvency and liquidity issues.

Mr. Ofori-Atta explained that the funds are expected to hit the accounts by the third quarter of this year. He further clarified his statement in an interview with Joy FMs Midday News, reiterating that the World Bank has committed the aforementioned amount. Talks are also underway with other donor partners, including the African Development Bank, for additional resources into the fund.

The establishment of the Financial Stability Fund is a positive development for Ghana, which has struggled with a volatile financial sector in the past. The fund will serve as a safeguard against future financial instability and will allow the government to respond promptly to any threats to the financial sector.

In addition to the World Bank’s commitment, the Ghanaian government plans to contribute funds to the stability fund. Mr. Ofori-Atta also called on other multilateral development banks and bilateral partners to assist the government in securing the stability of the country’s financial sector.

The pledge from the World Bank comes at a time when Ghana is grappling with the economic impact of the Covid-19 pandemic. The country’s economy, which is heavily dependent on exports of oil and cocoa, has been hit hard by the pandemic’s disruptions to global trade and a drop in commodity prices.

The establishment of the Financial Stability Fund will not only provide a means for the government to intervene in case of solvency and liquidity issues but will also signal to investors that the government is committed to maintaining a stable financial sector. This could help to boost investor confidence and attract much-needed foreign investment into the country.

RelatedPosts

The Global Push for a Just Transition in Energy Jobs

Why the IEA Reinstated Its “Business as Usual” Scenario

GRA Targets Offshore Income in Expanded Tax Compliance Drive

Overall, the commitment of $250 million from the World Bank to Ghana’s Financial Stability Fund is a positive development for the country’s financial sector. The fund will serve as a safety net against future financial instability and will allow the government to respond swiftly to any threats to the financial sector. This, in turn, could help to boost investor confidence and stimulate economic growth in Ghana.

Tags: Financial Stability FundWorld BankWorld Bank commits $250m to Ghana's Financial Stability Fund
No Result
View All Result

Highlights

Gold Boom Drives Rising Costs for Australian Producers

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

Premier League: Spurs Stun Man City at Etihad; Arsenal Dominates Leeds to go Top

CHAN 2024: Senegal, Sudan Complete Semifinal Lineup

From Promise to Peril: How Exam Fraud is Eroding Ghana’s Educational Soul

The 10 Fastest-Growing Trading Nations in Africa

Trending

Features

The Global Push for a Just Transition in Energy Jobs

August 24, 2025

The Global Push for a Just Transition in Energy Jobs For years, energy workers from the fossil...

Why the IEA Reinstated Its “Business as Usual” Scenario

August 24, 2025

GRA Targets Offshore Income in Expanded Tax Compliance Drive

August 24, 2025

Gold Boom Drives Rising Costs for Australian Producers

August 24, 2025

La Liga: Barcelona Stages Late Comeback Against Levante as Atletico Madrid Drops Points Again

August 24, 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.