Finance Minister Dr. Mohammed Amin Adam has signed a $260 million grant to enhance the reliability of the nation’s utility distribution systems and expand access to clean cooking solutions.
The signing ceremony for the Energy Sector Recovery Program (P4R) took place on Friday, October 25, 2024, which seeks to address Ghana’s pressing energy needs.
The program has been years in the making, with initial plans delayed due to fiscal challenges in 2022, requiring government focus on securing budgetary support through the Development Policy Financing (DPF) program.
The P4R, which embodies several key energy sector reforms, was restructured to align with national priorities, gaining parliamentary approval in September following a successful World Bank board presentation in June.
The Finance Minister, along with Ghanaian and energy sector officials, celebrated the ceremonial signing, emphasizing the rare return to in-person formalities in an era dominated by electronic document approvals.
The Minister noted the grant will play a transformative role in stabilizing distribution utilities, while also prioritizing sustainable energy practices through clean cooking solutions.
In attendance at the signing event were Ghana’s Finance Minister, Dr. Mohammed Amin Adam, Deputy Energy Minister representatives, directors from the Finance and Energy Ministries, and ECG’s Acting Managing Director.
