As part of the second operation (Resilient Recovery Development Policy Operation (DPO)), the funding aims to restore macroeconomic stability, revive investor trust, and increase structural reforms into the economy in the future.
Today, the approval of the Executive Director's approval ended a major driving force for Ghana's continued efforts to rebuild the financial crisis.
The funding provided by the International Development Association (IDA) aims to areas of emergency reform, including tax sustainability, financial sector stability, energy sector discipline, climate and social resilience.
Finance Minister Dr. Caciel At Forson welcomed the support and described it as a vote of great confidence on Ghana's reform trip as part of an IMF-backed programme. The success of IMF reform and the implementation of the DPO series lay a solid foundation for economic relaxation. This additional support will help deepen fiscal discipline, restore investor confidence and build a more integrated and shocking economy,” he said.
The company is a key part of the World Bank's broader crisis response framework and includes overall goals. Restoring fiscal sustainability, supporting the private sector, stabilizing the financial sector, defining long-term inefficiency in the energy sector, and increasing climate and social burdens.
Robert Taliecio, director of the World Bank of Ghana, Liberia and Sierra Leone, emphasized the urgency of reform.
It shifts tax and debt sustainability and creates jobs through private investment and protection of most endangered priorities. These are essential steps to revive the private sector in Ghana's domesticity, increasing resilience compared to climate change, improving the lives of ordinary Ghanaians," Taliercio said.
The approved reforms also aim to streamline the operation of the energy sector to increase domestic income generation, increase efficiency, and embed the climate aspects in the national political design.
The initiative highlights the growing change from crisis management to build long-term resilience and sustainability in Ghana's economic architecture.