The World Bank has approved a total of 260 million dollars credit facility to support a 4-year Ghana Energy Recovery Programme for Results (PforR) to improve financial viability of electricity distribution and increase access to clean cooking solutions.
In a statement dated June 18, the Ministry of Finance indicated that the said amount comprises of a $250 million credit from the International Development Association (IDA) and a $10 million grant from the Energy Sector Management Assistance Programme.
According to the World Bank country director for Ghana, Robert Taleircio,”Through this import result-based financing, the World Bank is committed to supporting Ghana’s recovery in the energy sector and financial sustainability adding that the aim of the support is also to strengthen revenue collection and improve the quality of energy supply.
On behalf of the government, the Minister of Finance thanked World Bank for their support in the attainment of the Sustainable Development Goals (SDG) particularly goal 7 which centres on affordable clean energy.
He further noted that Ghana’s quest to achieve financial viability in electricity distribution and increasing access to clean cooking solution is essential for building sustainable energy system.
Below is the statement
