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Ghana’s Finance Minister, Hon. Cassiel Ato Baah Forson, has welcomed the World Bank’s approval of a $360 million financing package as a strong endorsement of the country’s ongoing economic reform agenda.
The funding, provided under the Second Resilient Recovery Development Policy Operation (DPO), is aimed at supporting Ghana’s efforts to stabilize its economy, rebuild investor confidence, and accelerate structural reforms critical to long-term resilience.
In a statement following the announcement, the Finance Minister described the facility as a “major vote of confidence” in Ghana’s progress under the IMF-supported Post-COVID-19 Programme for Economic Growth (PC-PEG).
“The successful implementation of the IMF reforms and the DPO series has laid a solid foundation for economic recovery.
“This additional support will help us deepen fiscal discipline, restore investor trust, and build a more inclusive and shock-resistant economy.” he said.
The $360 million package, provided through the International Development Association (IDA), will focus on critical reform areas including fiscal sustainability, financial sector stability, energy sector efficiency, and climate and social resilience.
The approved reforms also aim to boost domestic revenue generation, streamline energy sector operations for greater efficiency, and embed climate considerations into national policymaking.
Hon. Cassiel Ato Baah Forson further disclosed that the funds will be channeled into urgent interventions designed to stabilize the macroeconomic environment, ensure sustainable debt management, and promote transparent governance in key sectors.
The government of Ghana under the leadership of H.E John Dramani Mahama has reaffirmed its commitment to upholding the reform milestones outlined under both the IMF and World Bank-supported programmes.
Source: Elvisanokyenews.net
