Parliament approves $360m World Bank facility to support 2025 budget

Parliament has approved a $360 million financing agreement between government and the World Bank’s International Development Association (IDA) for the Second Resilient Recovery Development Policy Financing.

Deputy Finance Minister Thomas Nyarko Ampem presented the facility to the House on Tuesday.

The funding aims to improve citizens’ livelihoods, accelerate economic growth, sustain macroeconomic stability, curb inflation, and restore economic growth.

The Finance Committee recommended approval of the facility, though the Minority voiced opposition during debates.

Ranking Member on the Committee on Economy and Development, Kojo Oppong Nkrumah, accused the government of using semantics to disguise what he characterized as a loan agreement.

The approval follows the Finance Committee’s recommendation to adopt its report on the financing arrangement.

ABOUT: Nana Kwesi Coomson

akcoomson@yahoo.com

An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

View all posts by: Nana Kwesi Coomson  

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