The World Bank has agreed to lend $250 million to fund the Ghana Energy Sector Recovery Programme, and the Parliament has approved the loan arrangement. The facility was a major factor in the recall of Parliament for a two-day emergency session; it had been previously rejected before to the parliamentary break. The loan is meant to support initiatives aimed at reviving and stabilizing Ghana’s energy industry, resolving persistent financial issues, and guaranteeing a consistent supply of electricity to homes and businesses throughout the nation.
The Minority first voiced serious objections during the proceedings, especially in relation to a $90 million consulting fee that was included in the loan arrangement. They said that the cost was excessive and that more investigation was necessary before approval could be given.
The loan facility was eventually granted in spite of these reservations, with the Majority highlighting the pressing need for cash to address important issues in the energy industry. They emphasized that maintaining the energy supply, lowering debt, and fostering economic growth are all dependent on the recovery effort.
SOURCE https://dew360.net
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