World Bank To Inject $1bn Into Ghana’s Economy
The World Bank is poised to inject an additional $1 billion into Ghana’s economy over the next 12 years, bolstering stability and private sector growth. This comes on the heels of $1.6 billion already allocated since last year to support the country’s economic recovery.
According to Robert O’Brien, World Bank Country Director for Ghana, “The Bank is satisfied with Ghana’s economic stabilization measures, which have influenced continued support for budgeted projects and poverty reduction initiatives.” He made this disclosure on PM EXPRESS BUSINESS Edition on Thursday, August 15.
Furthermore, the World Bank Group has set aside $5 billion for social intervention and infrastructure projects in Ghana. 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.
In the past year, $1 billion has been disbursed from an allocated $4.4 billion, with $800 million approved in June for further economic assistance. Emphasizing the importance of fiscal discipline and economic growth, O’Brien stressed, “The World Bank is committed to providing technical support to ensure the success of ongoing reforms.”
