Ghana signs $ 200 million loan agreement with World Bank to support immunization program


The government of Ghana has signed an additional loan agreement of $ 200 million with the World Bank to facilitate the immunization process.

This is the second tranche of funds the government receives from the World Bank for the management of the pandemic.

Speaking to the media after the deal was signed, Finance Minister Ken Ofori-Atta said the loan facility came at the right time to help support the government’s efforts in handling the situation.

“We must continue to lay the foundations for an activated welfare state. One who helps people and restores dignity to the lives of our fellow Ghanaians. However, the intervention of these resources is therefore important. In other words, if our people are not vaccinated, we will not have the energy and drive to transform our economy and contribute to much better investments. “

“Without a doubt, the government cannot do it alone, we need more in-depth commitments from multilateral partners to facilitate the provision of the financing and technical support necessary to invest in human capital and build fiscal infrastructure. and comprehensively address the development challenges that characterize the goals of the SDGs being achieved. Basically, this will require the availability of any innovative financial support to ensure that critical interventions in response to COVID-19 are immediate and swift. Signing this agreement today is an essential part of the government’s will to build back better and smarter, and I would like to clearly thank the World Bank, IDA and the Minister of Health for their immense contribution and support. not only to fight the pandemic, but also to pursue the government’s transformation agenda, ”he said.

Meanwhile, World Bank Country Director Pierre Laporte hopes the funds will help the country manage the virus.

“This specific project focuses primarily on vaccines, while the first two projects primarily supported initial efforts to put in place systems and supports to address the immediate impact. We are now moving on to the next phase, and we believe this is extremely important for Ghana as the results help the whole system to be better prepared to deliver vaccines to the population, which is essential in the wake of the system. health.

Since Ghana recorded its first case of Covid-19 in 2020, it has mobilized internal and external funding to directly contain its spread and its effects on citizens and the economy.

These include a 1.716 million yen ($ 296,629) World Bank development policy operation; IMF rapid credit facility of 3.145 million yen ($ 543,647); Access to an (estimated) portion of $ 591.1 million from the Ghana Heritage Fund.

There was also a 3 billion yen ($ 518.6 million) syndication facility to support businesses, particularly in the pharmaceutical, hotel, service and manufacturing sectors; $ 3 billion via the Eurobond Covid-19; and 100 billion yen ($ 17.2 billion) for the Mitigation and Revitalization of Covid-19 Business Support (CARES), among others.

Leave A Reply

Your email address will not be published.