The World Bank has announced that it anticipates its recent disbursements to Ghana will attract additional donor funding and private capital investment for the country. Since January, the Bank has advanced over $800 million, with further disbursements expected before the year’s end.
David Elmaleh, Senior Economist at the World Bank Group, expressed hope that the approval of these funds will encourage other donors to support Ghana’s economic recovery program. He remarked, “The fact that the World Bank approves this operation is in fact a recognition of the reform programmes enacted by the government and the fact that it’s starting to bear fruit.”
Elmaleh added that the World Bank projects an economic recovery for Ghana in the near future due to this support. He assured that the Bretton Woods institutions will continue to collaborate to assist developing countries like Ghana. “The reforms that we’ve supported will help to further advance the country and could attract the support of others. I think that the World Bank as an institution is aware that this crisis has been very difficult for Ghanaians. We are doing everything we can jointly with partners to help get out of this crisis.”
Elmaleh also stated that the World Bank expects the government to invest in areas that will help reduce poverty and create jobs.
