Finance

Bank of Ghana receives US$300 million World Bank loan facility

The World Bank has released a US$300 million loan facility for Ghana allocated for budgetary support.

According to a Citi News report, the loan was credited to the Bank of Ghana account on Wednesday March 27, 2023.

The facility from the global lender forms part of a series of three disbursements which will go towards crisis response and resilience under the Resilient Recovery Development Policy Operation.

The amount is expected to boost the Central Bank’s reserve, address fiscal sustainability and increase private sector development. It will also help slow down the cedi’s depreciation, improve climate resilience and enhance energy sector financial discipline.

Meanwhile, finance minister Dr. Mohammed Amin Adam has assured government’s commitment to stay within the World Bank-supported Development Policy Operations.

He made the remarks on the back of potential increased spending often associated with election years in Ghana.

 

Source: www.ghanaweb.com

Ogyem Solomon

Solomon Ogyem – Media Entrepreneur | Journalist | Brand Ambassador Solomon Ogyem is a dynamic Ghanaian journalist and media entrepreneur currently based in South Africa. With a solid foundation in journalism, Solomon is a graduate of the OTEC School of Journalism and Communication Studies in Ghana and Oxbridge Academy in South Africa. He began his career as a reporter at OTEC 102.9 MHz in Kumasi, where he honed his skills in news reporting, community storytelling, and radio broadcasting. His passion for storytelling and dedication to the media industry led him to establish Press MltiMedia Company in South Africa—a growing platform committed to authentic African narratives and multimedia journalism. Solomon is the founder and owner of Thepressradio.com, a news portal focused on delivering credible, timely, and engaging stories across Ghana and Africa. He also owns Press Global Tickets, a service-driven venture in the travel and logistics space, providing reliable ticketing services. He previously owned two notable websites—Ghanaweb.mobi and ShowbizAfrica.net—both of which contributed to entertainment and socio-political discussions within Ghana’s digital space. With a diverse background in media, digital journalism, and business, Solomon Ogyem is dedicated to telling impactful African stories, empowering youth through media, and building cross-continental media partnerships.

Related Articles

Back to top button