Parliament has approved a $360 million financing agreement between the Government of Ghana and the World Bank’s International Development Association (IDA) to support the 2025 national budget.
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The agreement, presented by Deputy Finance Minister Thomas Nyarko Ampem on Tuesday, is part of the Second Resilient Recovery Development Policy Financing initiative.
The funds aim to:
- Improve livelihoods
- Boost economic growth
- Restore macroeconomic stability
- Reduce inflation
- Sustain Ghana’s post-crisis recovery efforts
The Finance Committee recommended approval of the deal. However, the Minority opposed it, raising concerns during the debate on the floor.
Kojo Oppong Nkrumah, Ranking Member of the Economy and Development Committee, criticized the government’s handling of the agreement. He claimed officials used “semantics” to mask what he described as a loan.
Despite the pushback, Parliament adopted the Finance Committee’s report and approved the facility.
