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The World Bank has firmly dismissed reports claiming that any of its funded projects in Ghana have been suspended, assuring stakeholders of continued support for the country’s development.
In an official statement released on Thursday, the global financial institution emphasised:
“No projects in the World Bank-financed portfolio in Ghana are currently suspended.”
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This clarification comes in response to speculation that two major initiatives—the $200 million Tree Crops Diversification Project and the $200 million Ghana Digital Acceleration Project (GDAP)—had been put on hold following the recent dismissal of key officials by the new administration.
The World Bank’s reassurance highlights its commitment to supporting Ghana’s development agenda, which spans infrastructure, healthcare, education, and energy. The institution’s portfolio in Ghana is focused on boosting economic growth, reducing poverty, and creating jobs.
The bank’s clarification aims to address concerns about potential disruptions that could have impacted service delivery, investor confidence, and job creation.
Although the World Bank did not explicitly address the origin of the rumours, the statement follows ongoing public discussions about Ghana’s economic challenges and engagements with international financial institutions.
The speculation was partly driven by concerns over the country’s debt sustainability, delays in disbursement of funds, and compliance with lending conditions. These challenges have been a central focus as Ghana works to stabilise its economy.
In recent years, Ghana has faced significant economic difficulties, including:
- Currency Depreciation: The cedi has struggled against major currencies, affecting trade and investment.
- High Inflation Rates: Rising prices have strained households and businesses.
- Debt Restructuring: Ongoing efforts to manage the country’s debt have raised concerns about the economy’s long-term stability.
The World Bank remains a key partner in Ghana’s economic recovery, working alongside the International Monetary Fund (IMF) to provide financial support and policy guidance. Both institutions are committed to helping Ghana overcome its fiscal challenges and achieve sustainable growth.
The World Bank’s assurance is expected to ease concerns and foster confidence in Ghana’s economic outlook. As the country navigates complex economic issues, continued collaboration with development partners remains vital for long-term progress.
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