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World Bank Approves $260m To Boost Ghana’s Energy Sector

THE World Bank Group has approved a financial package of $260 million to aid Ghana in improving electricity distribution and expanding access to clean cooking energy, according to a statement issued on Thursday. This funding comprised a $250 million loan and a $10 million grant.

This support will bolster Ghana’s Energy Sector Recovery Programme (ESRP), which aims to enhance the financial viability of electricity distribution and broaden access to clean cooking solutions. The ESRP’s objectives include improving revenue collection and reducing electricity distribution losses, thereby improving the operational and financial performance of Ghana’s energy utilities.

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A significant component of the programme focuses on providing greater access to liquefied petroleum gas (LPG) for households, schools, and businesses in Ghana. The initiative also plans to incentivise the adoption of stoves and related accessories among first-time domestic users, commercial caterers, and secondary schools.

‘Through this important results-based financing, the World Bank is committed to supporting the recovery of Ghana’s energy sector and its financial sustainability,’ stated Robert Taliercio, World Bank Country Director for Ghana, Liberia, and Sierra Leone. ‘The operation aims to strengthen revenue collection and improve the quality of energy supply, including through investments in prepaid metering and the commercial and meter management systems of distribution utilities.’

This financial injection is expected to significantly contribute to the efficiency and sustainability of Ghana’s energy sector, promoting better service delivery and increased access to clean energy across the nation.

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