Akufo-Addo administration diverted $65m flood funds to COVID-19 - Finance Ministry

The Ministry of Finance has disclosed that the Akufo-Addo government redirected $65 million from a World Bank loan intended for flood protection under the Greater Accra Resilient and Integrated Development (GARID) Project to finance COVID-19 activities.

Frederick Amissah, Technical Advisor at the Ministry, revealed this during an appearance on JoyNews’ PM Express on Monday, July 6, 2026.

He explained that nearly half of the $137 million already drawn down from the $350 million GARID facility was channeled into pandemic-related spending, including fumigation exercises.

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Amissah rejected claims that delayed disbursements had slowed GARID’s progress, insisting that funds were released on time.

He emphasised that GARID is one of several World Bank-financed projects requiring strict oversight, since repayment ultimately falls on Ghanaian taxpayers.

He also said that the Mahama administration, upon taking office in 2025, uncovered multiple cases of project funds being misapplied.

He cited the Ghana Economic Transformation (GET) Project, where close to GH¢1 billion was reportedly spent on travel in 2024 alone.

Breaking down the figures, Amissah noted that of the $65 million diverted for pandemic response, $60.8 million has since been retired, leaving about $4.2 million outstanding.

He argued that the government had alternative funding sources at the time, including the Stabilisation Fund, IMF support, and African Development Bank facilities, and therefore had no justification for raiding GARID.

Amissah averred that COVID-related borrowing significantly worsened Ghana’s debt situation, since most of the pandemic spending was loan-financed rather than grant-supported.

DR/SA

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