{"id":209873,"date":"2024-08-16T17:28:22","date_gmt":"2024-08-16T17:28:22","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/08\/16\/world-bank-set-to-disburse-1bn-to-ghana-to-help-stabilise-economy\/"},"modified":"2024-08-16T17:28:22","modified_gmt":"2024-08-16T17:28:22","slug":"world-bank-set-to-disburse-1bn-to-ghana-to-help-stabilise-economy","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/08\/16\/world-bank-set-to-disburse-1bn-to-ghana-to-help-stabilise-economy\/","title":{"rendered":"World Bank set to disburse $1bn to Ghana to help stabilise economy"},"content":{"rendered":"<br><div id=\"article-text\">\n                        \n\n                        \n<p class=\"wp-block-paragraph\">The World Bank is planning to disburse US$1 billion over the next 12 years to help in stabilising Ghana\u2019s economy, and support private businesses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This is in addition to a $1.6 billion already disbursed for Ghana since last year to support the economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The World Bank has also indicated that is satisfied with measures being implemented by government to help stabilise the economy, a development that has influenced the disbursements to support projects identified in the budget and other initiatives aimed at reducing poverty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This was disclosed by the Country Director of the World Bank, Robert O\u2019 Brien on PM EXPRESS BUSINESS Edition with host George Wiafe on August 15, 2024.<\/p>\n\n\n\n<div class=\"youtube-embed\" data-video_id=\"-lupYZWaItQ\"><iframe loading=\"lazy\" title=\"Ghana&#039;s Economic Recovery and the World Bank | PM Business  with George Wiafe (15-8-24)\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/-lupYZWaItQ?feature=oembed&#038;enablejsapi=1\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/div>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. O\u2019Brien revealed that there is also a separate allocation of $5 billion under the World Bank Group for social intervention programmes and infrastructure projects.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Additional Support<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He announced that the bank will soon meet to approve another set of funding for Ghana to finance critical projects.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. O\u2019Brien noted that the second Development Policy Operations will also be considered soon by the Group, and when finalised, could lead to another funding for Ghana.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe have our portfolio and pipeline project financing for Ghana, in terms of support\u201d he affirmed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn terms of the portfolio funding, there is an allocation of $4.4 billion of that over the past 12 months, just $1 billion dollars have been disbursed\u201d, he stated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The World Bank in June approved a separate $800 million to support other sectors of the economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mr. O\u2019Brien said all the funding should help Ghana deal with shortfalls because of the country\u2019s inability to raise money from the international capital market.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Is Ghana\u2019s Recovery sustainable?<\/strong><\/p><p>Mr. O\u2019Brien is of the view that to ensure that the economic recovery is sustained, government must maintain fiscal discipline on election related spending.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cGovernment must also work hard to grow the economy and create the required jobs for the population\u201d, he advised.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He pointed out that doing this may go a long way to ensure that the recovery is sustained.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He said the World Bank will give Ghana the necessary technical support to ensure that the reforms being implemented are sustained.<\/p>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The World Bank is planning to disburse US$1 billion over the next 12 years to help in stabilising Ghana\u2019s economy, and support private businesses. This is in addition to a $1.6 billion already disbursed for Ghana since last year to support the economy. The World Bank has also indicated that is satisfied with measures being [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":209874,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-209873","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 set to disburse $1bn to Ghana to help stabilise economy - 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\/08\/16\/world-bank-set-to-disburse-1bn-to-ghana-to-help-stabilise-economy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"World Bank set to disburse $1bn to Ghana to help stabilise economy - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"The World Bank is planning to disburse US$1 billion over the next 12 years to help in stabilising Ghana\u2019s economy, and support private businesses. This is in addition to a $1.6 billion already disbursed for Ghana since last year to support the economy. 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