Parliament has approved a $360 million financing agreement between the government and the World Bank’s International Development Association (IDA) for the Second Resilient Recovery Development Policy Financing.
This followed the presentation of the facility to the House on Tuesday, July 1, by Deputy Finance Minister and MP for Asuogyaman, Thomas Nyarko Ampem.
The facility is aimed at enhancing citizens’ livelihoods, boosting economic growth, maintaining macroeconomic stability, curbing inflation, and supporting the country’s ongoing economic recovery efforts.
While the Finance Committee recommended the approval, Ranking Member on the Committee on Economy and Development, Kojo Oppong Nkrumah, criticised the move, accusing the government of using semantics to obscure what he described as a loan agreement.
The approval came after the House adopted the Finance Committee’s report on the proposed funding arrangement.
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