Ghana to get $1.1b World Bank credit for three years

In the next three years the World Bank will make a replenishment of International Development Assistance to the tune of $75 billion, with some $50 billion of that going to countries in sub-Sahara Africa in the next three years.

Ghana can access $1.1 billion or $1.2 billion of that credit within the period at an interest rate of 2.5 per cent payable in 25 years, the Ghana Country Director of the World Bank, Henry Kerali has said today, March 31, 2017

Speaking to journalists in Ghana, the Bank’s Africa Region Chief Economist, Albert G. Zeufack, gave a glooming picture of economic growth in sub-Sahara Africa, pointing out that 2016 saw the worse growth performance for the region at 1.6 per cent. “It declined in terms of per capita growth,” he said.

In 2017, he said the region is expecting what he described as ‘timid growth of about 2.5 to 3 per cent,” adding that, “If all risks are managed properly, growth of 3 to 3.5 per cent could be expected in 2018.”

The prospects of growth would be challenging, considering the fact that the global economic environment is weak and trade has collapsed, he said.

By Emmanuel K. Dogbevi
Copyright ©2017 by Creative Imaginations Publicity
All rights reserved. This news item or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in reviews.