Ghana has signed a $260 million Energy Sector Recovery Programme facility with the World Bank to boost the sector's recovery and financial stability.
The agreement, signed in Washington, DC, on the sidelines of the IMF/World Bank Annual Meetings, targets improvements in revenue collection and energy supply quality through investments in prepaid metering and commercial meter management systems for utilities.
Of the total amount, $250 million is provided as a loan, while the remaining $10 million is a grant to the Government of Ghana.
Finance Minister Dr Mohammed Amin Adam signed on behalf of Ghana, with World Bank Country Director Robert Taliercio O'Brien signing for the World Bank Group.