The Government of Ghana is negotiating with the World Bank for a $250 million loan to assist banks affected by the Domestic Debt Exchange Programme (DDEP). This is part of the Ghana Financial Stability Project, aiming to recapitalize at least 11 financial institutions. Key stakeholders emphasize the importance of restoring confidence in the banking sector and ensuring resilience amid economic challenges.
The Government of Ghana is engaged in advanced discussions with the World Bank to acquire a funding package worth $250 million. This funding is intended to support banks and financial institutions adversely affected by the Domestic Debt Exchange Programme (DDEP). The initiative is part of the broader Ghana Financial Stability Project, aimed at bolstering financial institutions post-debt restructuring.
In summary, Ghana’s discussions with the World Bank for a $250 million loan underscore the government’s commitment to financial stability. The funding will enhance the capital base of numerous financial institutions, addressing the adverse effects of the DDEP and aiming to restore confidence in the banking sector. Continued efforts are necessary to stabilize the financial environment and ensure economic growth.
Original Source: www.ghanaweb.com
