The World Bank has approved a $360 million financing package for Ghana. This move offers a major boost to the country’s efforts to stabilize its economy and drive key reforms.
The funding signals the World Bank’s strong confidence in Ghana’s recovery path. The country has faced a turbulent period marked by rising inflation, debt issues, and a weakened currency.
This package falls under the World Bank’s Development Policy Financing (DPF) framework. It will support crucial government efforts to restore fiscal discipline, improve financial transparency, and protect vulnerable groups.
“The financing shows the World Bank’s renewed trust in Ghana’s reform agenda,” said Ousmane Diagana, World Bank Vice President for Western and Central Africa. “It will help ease financial pressures while supporting long-term reforms.”
Ghana’s Finance Minister, Dr. Mohammed Amin Adam, called the approval “a significant milestone.” He said it would reduce liquidity pressure and fund key investments in infrastructure, education, and social protection.
The $360 million is part of a larger $3 billion IMF-backed program aimed at restoring macroeconomic stability. Ghana entered this program after defaulting on external debt in late 2022. Since then, the government has cut spending, restructured debt, and introduced new taxes to rebuild investor confidence.
Analysts believe the World Bank’s support could unlock further donor funding and strengthen Ghana’s position in global markets.
The funds will be released in phases, based on Ghana’s progress on agreed policy goals. Target areas include digital finance, public procurement, and pro-poor initiatives.
As Ghana continues its recovery, the new World Bank financing brings hope and underscores the importance of global cooperation in rebuilding its economy.
