/ 31 May 1999

WORLD BANK GIVES GHANA LOAN

THE World Bank on Thursday approved a $180-million credit to support private sector economic growth in Ghana. The funds will assist the government’s medium term strategy, which aims to turn Ghana into a middle income country in ten years, the bank said in a statement. In particular the interest-free credit will support reforms in the cocoa, banking and energy sectors and should help reduce the government’s domestic financing requirements. The goal of the project, according to the bank, is to create an economic environment attractive to private domestic and foreign investment.