The World Bank has revealed that it will start disbursing some US$830 million for various projects in Ghana before the end of 2024.

The bank, however explained that this will be dependent on parliament passing three loan agreements currently before the House for consideration.

Parliament should have approved the loans before going on recess, however due to concerns raised by some members, the House was unable to agree on the proposed terms.

The Board of the World Bank has been waiting for the necessary approvals from parliament before the disbursement is done.

Details of the loan agreement

The agreement includes, $250 million Ghana Financial Stability Fund, and $250 million for the Energy Sector Reforms, and $30 million for the Greater Accra Metropolitan Area Sanitation and Water Project (GAMA SWP). 

The World Bank Country Director, Robert O’Brien revealed that the disbursement will be done on the procurement processes approved by the Board of the bank.

“We have our portfolio and pipeline disbursement to Ghana, which some of these funds will come under. Ghana over the years had a very high disbursement rate, because of how they have handled their funds”, he said.

World Bank on disbursements

Speaking to JOYBUSINES Mr. O’Brien noted that once the approval is secured, the bank will start the disbursement.

“We are hopeful that these facilities will be approved quickly by Parliament so that the expected impact is felt on some critical sectors of the economy”.

Mr. Obrien added that the Bank is committed to supporting Ghana in the challenging times.

He announced that the World Bank in June 2025 will be approving a billion dollars for Ghana to support critical projects that will be published in the budget.