Approved by the Board of Executive Directors under the International Development Association (IDA), this Second Resilient Recovery Development Policy Financing operation aims to reinforce Ghana’s ongoing economic reforms. ‘

The funds will assist the government’s efforts to restore fiscal discipline, enhance investor confidence, and foster sustainable job creation.

Finance Minister Cassiel Ato Forson welcomed the decision, stating the reforms align with Ghana’s IMF program and prior Development Policy Operations. “We are confident these measures will enhance fiscal discipline and build a more resilient, inclusive economy,” Forson emphasized. He noted successful implementation has already stabilized the macroeconomic environment and laid groundwork for sustained recovery.

According to the World Bank, the financing targets four urgent priorities: restoring fiscal and debt sustainability, stabilizing the financial sector while boosting private investment, improving energy sector financial discipline, and strengthening social and climate resilience. Robert Taliercio, World Bank Director for Ghana, Liberia, and Sierra Leone, stressed these steps are critical for revitalizing Ghana’s private sector and improving citizens’ quality of life.

Specific reforms will focus on increasing domestic revenue mobilization and promoting private-sector-led growth. Additionally, the program supports measures to ensure efficient energy sector management and integrate climate resilience into national policies. Taliercio confirmed the Bank’s commitment to deepening these reforms, highlighting their role in shielding Ghana from future economic and environmental shocks.

This financing forms part of the World Bank’s broader crisis response and resilience engagement in Ghana. It builds upon earlier efforts to navigate recent economic challenges, with a renewed emphasis on institutional strengthening and sustainable development pathways.