Ghana Secures $260M Lifeline from World Bank to Energize Recovery
A Strategic Move to Enhance Financial Stability and Improve Energy Supply Quality
- The agreement includes $250 million as a loan and $10 million as a grant to support energy sector reforms
- Focus on prepaid metering and commercial meter management to boost revenue collection
- Minister Dr. Amin Adam emphasizes the necessity of this investment for sustainable growth
Ghana has received a much-needed boost to its energy sector, securing a $260 million facility from the World Bank.
This funding will be used to improve revenue collection, enhance energy supply quality, and modernize the sector through investments in prepaid metering and advanced meter management systems.
The agreement, signed recently, marks a significant step towards stabilizing Ghana’s energy sector, which has faced significant challenges in recent years.
The $250 million loan and $10 million grant will be utilized to address pressing issues, such as revenue shortfalls and unreliable power supply.
Both the Ghanaian government and the World Bank have expressed optimism about the positive impact of this investment. The funding is expected to improve the lives of Ghanaians by providing more reliable and affordable energy services.
