Parliament has approved a financing arrangement worth $360 million between the government and the World Bank’s International Development Association (IDA) for the Second Resilient Recovery Development Policy Financing.
On Tuesday, Deputy Finance Minister Thomas Nyarko Ampem presented the facility to the parliament.
The funding aims to improve residents’ living conditions, accelerate economic growth, maintain macroeconomic stability, reduce inflation, and restore economic growth.
The Finance Committee recommended approval of the facility, however the Minority expressed objection during deliberations.
Kojo Oppong Nkrumah, Ranking Member of the Committee on Economy and Development, accused the government of using jargon to obfuscate what he described as a loan agreement.
The decision comes after the Finance Committee’s proposal to adopt its report on the funding arrangement.
