World bank approves $300 million for Ghana to help economic recovery

The World Bank Group has given the approval for a $300 million funding package aimed at bolstering Ghana’s economy. This decision follows Ghana’s recent agreement with its official creditors to restructure certain aspects of its external debts, a deal finalized just over a week ago.

In an official statement, the international financial institution emphasized that this agreement marks a crucial step in the direction of restoring the debt sustainability of the West African nation.

The approved financing is planned to support the implementation of government programs, with a focus on enhancing domestic revenue mobilization, managing expenditures, and ensuring the stability of the financial sector.