{"id":190977,"date":"2024-06-19T16:18:41","date_gmt":"2024-06-19T16:18:41","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/19\/world-bank-approves-250m-ida-credit-10m-energy-grant-for-ghana\/"},"modified":"2024-06-19T16:18:41","modified_gmt":"2024-06-19T16:18:41","slug":"world-bank-approves-250m-ida-credit-10m-energy-grant-for-ghana","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/19\/world-bank-approves-250m-ida-credit-10m-energy-grant-for-ghana\/","title":{"rendered":"World Bank approves $250m IDA credit, $10m energy grant for Ghana \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>The World Bank has approved a US$250 million credit from the International Development Association (IDA) and an additional US$10 million grant from the Energy Sector Management Assistance Programme to support Ghana\u2019s 4-year Energy Sector Recovery Programme for Result (PforR).<\/strong><\/p>\n<p>This was contained in a statement issued by the Finance Ministry on Tuesday, June 18, 2024.<\/p>\n<p>According to the Ministry, the PforR aims to improve the financial viability of electricity distribution and increase access to clean cooking solutions.<\/p>\n<p>\u201cThrough this important results-based financing, the World Bank is committed to supporting the recovery of Ghana\u2019s energy sector and its financial sustainability.<\/p>\n<p>\u201cThe operation aims to strengthen revenue collection and improve the quality of energy supply through investments in prepaid metering and in the commercial and meter management systems of distribution utilities,\u201d Robert Taliercio, World Bank Country Director for Ghana, Liberia, and Sierra Leone, is quoted as saying.<\/p>\n<p>Moreover, the Minister for Finance, Dr Mohammed Amin Adam expressed gratitude to the global lender for \u201ctheir support in the attainment of the Sustainable Development Goals (SDGs), particularly Goal 7 (Affordable and Clean Energy).\u201d<\/p>\n<p>He added, \u201cOur quest to achieve financial viability in electricity distribution and increasing access to clean cooking solutions is essential for building sustainable energy systems that support economic development, improve public health, and protect the environment while promoting energy access and equity for all\u201d.<\/p>\n<p>Dr Amin Adam continued that \u201cour access to sustainable energy is not just about powering homes and businesses, it\u2019s about empowering communities, protecting the environment, and fostering inclusive and sustainable development\u201d.<\/p>\n<figure class=\"wp-block-image\" id=\"attachment_388666\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/finance.jpg\" alt=\"World Bank\" class=\"wp-image-388666\"\/><figcaption class=\"wp-element-caption\">Finance Ministry\u2019s statement<\/figcaption><\/figure>\n<p>According to the Ministry, the Energy Sector Management Assistance Programme provides \u201cknowledge, technical assistance, and advisory services to help countries enhance their institutional capacity and implement sustainable energy solutions.\u201d<\/p>\n<h6 class=\"wp-block-heading\"><strong>What is IDA?<\/strong><\/h6>\n<p>The International Development Association (IDA) is a development finance institution that offers \u201cconcessional loans and grants\u201d to the world\u2019s low-income developing countries. The IDA is a member of the World Bank Group.<\/p>\n<p>IDA\u2019s grants and low-interest loans help countries invest in their futures, improve lives, and create safer, more prosperous communities around the world.<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The World Bank has approved a US$250 million credit from the International Development Association (IDA) and an additional US$10 million grant from the Energy Sector Management Assistance Programme to support Ghana\u2019s 4-year Energy Sector Recovery Programme for Result (PforR). This was contained in a statement issued by the Finance Ministry on Tuesday, June 18, 2024. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":185400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-190977","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>World Bank approves $250m IDA credit, $10m energy grant for Ghana \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/19\/world-bank-approves-250m-ida-credit-10m-energy-grant-for-ghana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank approves $250m IDA credit, $10m energy grant for Ghana \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The World Bank has approved a US$250 million credit from the International Development Association (IDA) and an additional US$10 million grant from the Energy Sector Management Assistance Programme to support Ghana\u2019s 4-year Energy Sector Recovery Programme for Result (PforR). This was contained in a statement issued by the Finance Ministry on Tuesday, June 18, 2024. 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