World Bank Approves $360m Funding to Stabilze Ghana's Economy
Accra, Ghana - 30 June, 2025 - The World Bank has approved a $360 million funding package to support Ghana's efforts in stabilizing its economy and building resilience for long-term growth.
The financing, which falls under the Second Resilient Recovery Development Policy Financing operation, aims to aid the country's recovery from recent economic shocks and support key reforms.
According to Finance Minister Cassiel Ato Forson, the funding will help entrench fiscal discipline and build a more inclusive and shock-resilient economy.
“The successful implementation of reform actions under the IMF program 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,” Dr. Ato Forson said in a statement on June 29.
“We are confident that the measures supported by this DPO will help our efforts to enhance fiscal discipline and build a more resilient and inclusive economy, capable of withstanding future shocks,'' he added.
The World Bank says the operation will focus on four key areas: restoring fiscal sustainability, strengthening financial sector stability, improving energy sector discipline, and enhancing social and climate resilience. Robert Taliercio, World Bank Country Director for Ghana, Liberia, and Sierra Leone, emphasized the importance of reforms backed by the financing, noting that they are essential for revitalizing Ghana's private sector, tackling long-standing energy challenges, and protecting the most vulnerable.
“Entrenching fiscal and debt sustainability, improving the business environment to attract investment and create jobs, addressing long-rooted energy sector challenges, and protecting the most vulnerable, measures supported by this financing, continue to be urgent priorities for Ghana,'' he said.
“These measures are essential for revitalizing Ghana’s private sector, tackling long-standing energy challenges, and protecting the most vulnerable,'' he added.
Source: Lead News Online
