Ghana has signed three credit agreements with the World Bank totalling 220 million dollars and a policy based guarantee worth 400 million dollars in Accra.
The three credit agreements include a 25 million dollar transport sector project, 45 million dollar public financial management reform project, general budget support of 150 million dollars and a 400 million dollar policy based guarantee. The Minister of Finance Seth Terkper initialed on behalf of the government of Ghana while the World Bank country director Henry Kerali initialed on behalf of the bank.
Meanwhile the World Bank’s Board of Directors last week approved a 700 million dollar guarantee for Ghana’s Sankofa Gas Project. This is expected to help address the ongoing power crisis by helping the country mobilize some 7.9 billion dollars in new private investments for offshore natural gas, representing the biggest foreign direct investment in Ghana’s history.
Source: The General Telegraph
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