In a significant boost to Ghana’s economic recovery efforts, the World Bank has announced plans to disburse $1 billion over the next 12 months.
This funding aims to stabilize the economy, support private businesses, and finance critical projects.
According to Robert O’Brien, World Bank Country Director, this disbursement is in addition to the $1.6 billion already provided to Ghana since last year.
O’Brien expressed satisfaction with the government’s measures to stabilize the economy, which has influenced the World Bank’s decision to provide further support.
The funding will focus on projects identified in the budget and initiatives aimed at reducing poverty.
An additional $5 billion has been allocated for social intervention programs and infrastructure projects under the World Bank Group.
O’Brien emphasized the need for fiscal discipline on election-related spending to ensure sustainable economic recovery.
He advised the government to maintain fiscal responsibility and work towards growing the economy to create jobs for the population.
The World Bank has pledged to provide technical support to ensure the sustainability of reforms being implemented.
This support demonstrates the World Bank’s confidence in Ghana’s economic recovery efforts and its commitment to helping the country to overcome its economic challenges.
BY Daniel Bampoe