JOHANNESBURG - The World Bank has approved two International Development Association (IDA) credits totalling $60million (R793m) for the Ghana Energy Sector Transformation Initiative Project and the Ghana Tourism Development Project.
Specifically, the Ghana Energy Sector Transformation Initiative Project received $20million to strengthen the capacity of the energy sector, implement sector reforms, and improve energy sector planning and co-ordination in Ghana, Ghana Web reported
yesterday.
“The project supports the government's plan through a comprehensive package of regulatory, policy, operational measures and platforms for stakeholder engagement to help the government address near-term challenges and lay the groundwork for Ghana's energy sector transformation,” said Henry Kerali, World Bank Country director for Ghana.
The project aligns with the priorities of the government's co-ordinated programme of economic and social development policies.
Another $40 million was given to Ghana's tourism development project to improve the performance of tourism in targeted destinations. The project will enhance the tourism sector's offerings, diversify its impact, and help increase the contribution of the tourism sector to the West African country’s economy.