Public Finance International: World Bank Pledges $700m to Boost Ghana’s Energy Security
The World Bank is to provide $700m in guarantees to Ghana to support the development of the nation’s energy sector in order to boost the country’s economic growth.
The guarantees for Sankofa Gas Project, the largest amount ever pledged by the World Bank, form part of a wider programme of support based around technical assistance for energy sector reform.
These investment guarantees are expected to unlock $7.9bn from private firms into offshore natural gas projects, which would represent the biggest foreign direct investment in Ghana’s history.
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