Parliament has approved a $360 million financing agreement between government and the World Bank's International Development Association (IDA) for the Second Resilient Recovery Development Policy Financing.

Deputy Finance Minister Thomas Nyarko Ampem presented the facility to the House on Tuesday.

The funding aims to improve citizens' livelihoods, accelerate economic growth, sustain macroeconomic stability, curb inflation, and restore economic growth.

The Finance Committee recommended approval of the facility, though the Minority voiced opposition during debates.

Ranking Member on the Committee on Economy and Development, Kojo Oppong Nkrumah, accused the government of using semantics to disguise what he characterized as a loan agreement.

The approval follows the Finance Committee's recommendation to adopt its report on the financing arrangement.