Business

Coronavirus: Ghana to receive $130m from World Bank

The World Bank board is set to approve $130 million to support Ghana in its management of the covid-19 pandemic in order to reduce the impact on the growing economy.

As of the close of work on Tuesday, November 10, the necessary documentation has been formally presented to the board of the World Bank in Washington DC to approve $130 million for Ghana.

It forms part of the second tranche of the World Bank Covid-19 response programme for countries like Ghana.

This will bring the total amount of funds disbursed to the government to about 240 million dollars and should hit 260 million dollars by the end of this year.

Pierre Laporte, World Bank Country Director for Ghana said there are measures in place to make sure the said funds are used for the specific purposes.

“Every time we provide funding except for budget support, any project including Covid we don’t give the money to the government just like that. There is a project implementation unit that is set up by the World Bank and the government, each and every contract is awarded is audited and verified and if down the line the bank discovers that certain procedures were not followed in one contract the government will be asked to refund the money.”

The funding is part of World Bank’s 14 billion dollars fast track support programme for developing countries to deal with the pandemic.

Show More

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button