Ghana secures $360m World Bank boost for economic recovery
By Praisebell Rosemond Larbi
Ghana has secured USD360 million in concessional financing from the World Bank to reinforce its ongoing economic recovery and fiscal consolidation agenda under the IMF-supported programme.
The World Bank’s Executive Board approved the package on 27 June, and the funds were disbursed to the Bank of Ghana last week.
The new support follows last year’s USD300 million First Resilient Recovery Development Policy Operation (DPO1), bringing total funding under the series to USD660 million.
The latest tranche, known as the Second Resilient Recovery Development Policy Financing (DPO2), is provided through the International Development Association (IDA).
According to the World Bank, DPO2 is intended to reinforce fiscal discipline and debt sustainability, safeguard financial-sector stability, strengthen energy-sector governance and reforms, and enhance social protection and climate resilience.
In a statement, the World Bank explained that the operation forms part of a broader strategy to restore investor confidence, sustain macroeconomic stability and build a more inclusive, shock-resistant economy.
“It aims to restore investor confidence, accelerate economic growth, maintain macroeconomic stability and create a more resilient and inclusive economy,” the Bank noted.
Finance Minister Dr Cassiel Ato Forson welcomed the disbursement, saying it reflects Ghana’s steady progress with the IMF-backed adjustment programme.
He highlighted that reforms supported by the DPO series, such as stronger public financial management, energy-sector restructuring and improved revenue mobilisation, are already strengthening fiscal discipline and helping to rebuild market confidence.
“With the new disbursement, Ghana is expected to accelerate reforms that underpin private-sector development while cushioning the economy against future shocks,” Dr Forson said.
The fresh inflow comes as Ghana works to stabilise its economy after a severe debt crisis and sharp currency depreciation in recent years. By bolstering fiscal buffers and supporting key structural reforms, the USD360 million facility is expected to help anchor economic recovery, attract private investment and enhance resilience to global and domestic shocks over the medium term.
