World Bank $300m loan hits BoG account

Ghana has received a boost with the disbursement of a US$300 million loan facility from the World Bank.

The funds have been officially released for budgetary support, marking a crucial milestone in the country’s economic recovery efforts.

The substantial amount was credited to the account of the Central Bank of Ghana today, Wednesday, March 27, 2023.

This injection of foreign capital comes as part of the Resilient Recovery Development Policy Operation, aiming to bolster crisis response and resilience in Ghana amidst ongoing economic challenges.

This disbursement represents the initial tranche of a planned series of three operations, each amounting to $300 million, from the World Bank.

The subsequent tranches are expected to follow in due course, further supporting Ghana’s efforts to navigate the current economic landscape and enhance its resilience to future crises.

The release of this much-needed financial support is anticipated to have a positive impact on the Ghanaian economy, providing valuable resources for critical government expenditures and initiatives.

As the country continues to address economic challenges and pursue sustainable development goals, the timely arrival of these funds is poised to contribute significantly to Ghana’s ongoing recovery efforts.

This latest development underscores the World Bank’s commitment to supporting Ghana in its journey towards economic stability and resilience.

With the receipt of this substantial loan facility, Ghana is poised to strengthen its financial position and advance its efforts towards sustainable growth and development.

-DGN online