Finance Minister, Dr Mohammed Amin Adam
The World Bank has approved a $250 million credit from the International Development Association (IDA) and an additional $10 million grant from the Energy Sector Management Assistance Programme to support Ghana's energy sector.
The enhancement of the Ghana Energy Sector Recovery Programme for Results (PforR) aims to improve the financial viability of electricity distribution and increase access to clean cooking solutions.
The Energy Sector Management Assistance Programme also offers knowledge, technical assistance, and advisory services to assist countries in strengthening their institutional capacity and implementing sustainable energy solutions.
PforR is expected to provide direct financing to energy sector utilities to implement capital expenditure programs and support regulatory and policy reforms in the energy sector.
Under the clean cooking initiative, the programme will expand access to Liquefied Petroleum Gas (LPG) for domestic and commercial use.
The PforR will also offer direct incentives to reduce the cost of stoves and related accessories.
SA/MA
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