Parliament approves $250 million World Bank loan to revitalise energy sector

Parliament has approved a $250 million World Bank loan for the Ghana Energy Sector Recovery Programme.

The loan, which faced initial rejection, was passed after a two-day emergency sitting.

It aims to address urgent issues in Ghana's energy sector, including stabilisation and revitalisation to ensure a reliable electricity supply.

Despite the Minority's objections to a $90 million consultancy fee, the Majority stressed the loan's importance for resolving financial challenges, reducing sector debt, and supporting economic growth.

Read full article