Ghana is set to receive $360 million in financing from the World Bank to bolster its economic stability and resilience following recent fiscal shocks.
The funding, approved under the Second Resilient Recovery Development Policy Financing operation, aims to support key reforms targeting job creation, inclusive growth, and long-term economic recovery.
In a statement on Sunday, June 29, Finance Minister Cassiel Ato Forson stated, “The successful implementation of reforms under the IMF program and our policy operations have strengthened macroeconomic stability and investor confidence. This new support will help us entrench fiscal discipline and build a more inclusive and shock-resilient economy.”
According to the World Bank, the funding will focus on restoring fiscal sustainability, enhancing energy sector discipline, reinforcing financial sector stability, and boosting climate and social resilience.
Robert Taliercio, World Bank Country Director for Ghana, Liberia, and Sierra Leone, underscored the critical nature of the reforms tied to the financing, saying, “These measures are essential for revitalizing Ghana’s private sector, tackling long-standing energy challenges, and protecting the most vulnerable.”
The support is part of a broader strategy by the World Bank to assist Ghana in mobilizing domestic revenue, promoting private-sector-led growth, and advancing climate-smart development.
