According to the Minister for Finance, Ken Ofori-Atta, the World Bank has committed $250 million to Ghana Financial Stability Fund (GSFS).

While engaging the press in Washington DC, the minister noted that the said amount would hit the country's account by the third quarter.

"The World Bank has committed $250 million,” he is quoted to have said by JoyNews.

He explained that the stability fund is being established to ensure that government can intervene in the event of any solvency and liquidity issues.

The Finance Minister noted that currently, talks are underway for donor partners such as the African Development Bank for further resources into the fund.

He added that government will also deposit some money into the fund, and further encouraged other multilateral development banks and bilateral partners to assist the Government of Ghana to secure the stability of the country’s financial sector.