The World Bank has approved a $200 million International Development Association (IDA) credit to support Ghana to enable the west African country create jobs and protect its poor and vulnerable population.
The Second Macroeconomic Stability for Competitiveness and Growth Development Policy Financing (DPF) operation will support reforms in the country’s State Owned Enterprises (SOEs) in the energy sector.
The credit which was approved on Wednesday should also enable Ghana strengthen its institutions and build its economy.
Henry Kerali, World Bank Country Director for Ghana said “As the economy improves and creates more and better jobs, there is also need to protect and promote livelihoods of the poor and the vulnerable segment of the population to help break intergenerational poverty,”
“Building institutions for predictable fiscal outcomes and improving the business environment for the private sector are likely to remain priorities for the Government of Ghana as medium to long-term goals” he added.
The Second Macroeconomic operation is the last in a programmatic series of two single-tranche operations to support the implementation of Ghana’s Second Shared Growth and Development Agenda over the 2014-2017 periods.
Source: Africafeeds.com
