The World Bank has approved a $60 million credit facility to fund the Ghana Energy Sector Transformation Initiative Project and the Ghana Tourism Development Project.
Of the $60 million, $20 million has been allocated to support the Ghana Energy Sector Transformation Initiative Project.
“The project supports the government’s plan though a comprehensive package of regulatory policy, and operational measures and platforms for stakeholder engagement to help the government address near-term challenges and lay the ground work for Ghana’s energy sector transformation,” Henry Kerali, World Bank Country Director for Ghana told ESI Africa.
The funding will improve the state of service delivery of the country’s power sector and benefit electricity consumers who have suffered as a result of the severe electricity supply challenges that Ghana has experienced in the past decade.
This financial boost will put the West African country a step closer to achieving its goal of having universal power access by 2020.