ACCRA, Ghana – The government is actively pursuing World Bank Funding worth US$250m to support banks hit hard by the Domestic Debt Exchange Program (DDEP). Officials say the funding will directly bolster financial institutions and restore confidence in the domestic banking sector.
Government leaders announced that the proposed funding package aims to recapitalize banks and provide immediate relief to institutions grappling with the adverse effects of the DDEP. In meetings with World Bank representatives, senior officials detailed plans for technical assistance and capacity-building measures that will help stabilize the financial system.
Analysts expect the infusion of US$250m to serve as a critical lifeline for banks struggling with liquidity issues and regulatory pressures. They noted that the initiative could also trigger further international support and improve overall economic resilience.
During a press briefing, a government spokesperson stated, “This US$250m World Bank funding will not only help our banks overcome current challenges but will also pave the way for long-term financial stability and growth.” The government has emphasized that the funding is part of a broader strategy to implement comprehensive reforms, including stricter regulatory oversight and enhanced risk management protocols.
As discussions with the World Bank continue, the government remains optimistic about securing the funding. The proposed initiative is expected to undergo rigorous evaluation in the coming weeks, with final approval seen as a crucial step toward stabilizing the financial sector and supporting economic recovery in Ghana.
