The World Bank is expected to advance $300 million in budget as support to Ghana in December 2023.
Sources close to the Bank in Washington DC USA said Ghana has met almost all the conditions for the final approval to be granted by the Board of the Bank.
Joy Business understand that the World Bank Board approval could come as soon as the IMF Board which is expected to meet on November 22, 2023, approves the second tranche of funds after the country reached the Staff Level Agreement after the First Programme Review.
The World Bank is also expected to disburse some $250 million to the country as part of its contribution to the Ghana Financial Stability Fund, which is expected to assist Banks that have been hit badly by the Domestic Debt Exchange Programme.
The Finance Ministry has told Joy Business that the Ghana Financial Stability Fund should take off by the end of October 2023.
The World Bank could by the close of this year advance more than $500 million to Ghana in Budget support and other initiatives
The African Development Bank is also expected to come on board with some support when Ghana secures the IMF board approval on the first programme review.
