Ghana will receive $360 million in financial support from the World Bank to help stabilize its economy and lay the groundwork for sustainable, long-term growth.
The funding, approved under the Second Resilient Recovery Development Policy Financing operation, forms part of a comprehensive plan to help Ghana bounce back from recent economic disruptions. The initiative is also aligned with key reforms designed to generate employment, improve public services, and strengthen economic resilience.
In a press statement on June 29, Finance Minister Cassiel Ato Forson said:
“The successful execution of reforms under the IMF-backed program and other policy initiatives has bolstered macroeconomic stability and investor confidence. This new support will reinforce fiscal discipline and help us build a more inclusive, shock-resilient economy.”
Robert Taliercio, the World Bank’s Country Director for Ghana, Liberia, and Sierra Leone, has stressed the urgency of implementing bold reforms to stabilize Ghana’s economy and lay the foundation for long-term resilience.
“Entrenching fiscal and debt sustainability, creating jobs through private investment, and protecting the most vulnerable remain urgent priorities,” Taliercio stated.
“These are essential steps to revitalise Ghana’s domestic private sector, strengthen resilience to climate change, and improve the lives of ordinary Ghanaians.”
His comments come on the heels of the World Bank’s approval of a $360 million development policy financing package, which aims to help Ghana move beyond crisis management toward a more resilient and inclusive economic model.
