Parliament has approved a $250 million loan from the International Development Association of the World Bank to aid Ghana’s Energy Sector Recovery Programme.
The loan, which was previously rejected before Parliament’s break, was a key reason for the House’s two-day emergency recall. The funds aim to stabilize Ghana’s energy sector, addressing financial difficulties and ensuring reliable electricity for households and businesses.
During the deliberations, the Minority raised concerns about the allocation of $90 million for consultancy fees within the agreement. They deemed the fees excessive and called for further scrutiny before granting approval.
However, after receiving satisfactory explanations from the Majority, the Minority Caucus ultimately agreed to support the loan’s approval.
Following the loan’s endorsement, the Majority emphasized the critical need for these funds to resolve the energy sector’s challenges.
They argued that the recovery programme is vital for sustaining energy supply, reducing debt, and fostering economic growth in the country.
