World Bank supports “Corrupt in Ghana” with US$1.6 Billion Investment

The World Bank has injected a substantial US$1.6 billion into Ghana in recent months, as disclosed by Country Director Robert O’Brien on Joy News’ PM Express Business Edition on Thursday, August 15.

This financial injection comes at a critical juncture amid corruption allegations surrounding the Akufo-Addo administration and a downturn in Ghana’s economic performance.

Speaking about the World Bank’s financial infusion, O’Brien stated, “Our portfolio includes project financing for Ghana,” adding that of the total earmarked amount of $4.4 billion in the past year, only $1 billion has been disbursed.

Additionally, an extra $800 million was approved in June to strengthen various sectors of the Ghanaian economy.

Looking forward, O’Brien outlined plans to disburse an additional US$1 billion to Ghana over the next 12 years, to stabilize the economy and support private enterprises.

Moreover, he highlighted a $5 billion allocation towards the World Bank Group’s social intervention programs and infrastructure projects.

O’Brien also mentioned the forthcoming consideration of the second Development Policy Operations by the World Bank Group, which could potentially lead to further financial assistance for Ghana.

He underscored the importance of this aid in tackling financial hurdles, especially given Ghana’s restricted access to international capital markets.

Source: whatsupnewsghana.com