The World Bank has authorised $360 million in financial aid to assist Ghana in stabilising its economy, generating jobs, and strengthening resilience in vital sectors including energy, finance, and climate adaptation.
According to a World Bank statement, this funding, provided through the International Development Association (IDA), was approved by the Board of Executive Directors as part of the Second Resilient Recovery Development Policy Financing operation.
The initiative aligns with Ghana’s broader reform agenda under its current IMF-supported economic programme.
“Its objectives are to restore fiscal sustainability, support financial sector stability and private sector development, improve energy sector financial discipline, and strengthen social and climate resilience,” the World Bank noted.
Don’t Miss This:
World Bank Urges Investment in Logistics to Combat Africa’s Growing Food Insecurity Crisis
Ghana’s Finance Minister, Dr Cassiel Ato Forson, welcomed the announcement, calling it a key milestone in the country’s recovery path.
“The successful implementation of reform actions under the IMF programme and the Development Policy Operations series (DPO) has strengthened macroeconomic stability, restored investor confidence, and laid a solid foundation for sustained economic recovery and inclusive growth,” he said.
Dr Forson added that the funds will support “fiscal discipline and build a more resilient and inclusive economy, capable of withstanding future shocks.”
The World Bank emphasised that the programme will encourage private-sector-led growth by improving fiscal governance, boosting domestic revenue mobilisation, and reinforcing financial stability.
It will also address longstanding challenges in Ghana’s energy sector by focusing on financial discipline and sustainable operational management.
Furthermore, the policy financing aims to support reforms that enhance social resilience and integrate climate considerations into national policy frameworks, part of efforts to meet sustainable development goals and tackle emerging environmental threats.
This $360 million injection from the World Bank represents a strategic effort to aid Ghana’s economic recovery and structural reforms.
It is aligned with ongoing IMF-backed programmes and reflects confidence in Ghana’s ability to rebound and develop a stronger, more inclusive economy.
Don’t Miss This:
Togo’s Unrest Slows Trade with Ghana, Causing Fewer Traders at the Border
Image Credit: CediRates
