Parliament has granted approval for two loan agreements from the World Bank estimating $350 million.

On Friday, the House approved a loan agreement of $150 million from the International Development Association of the World Bank. The loan is allocated for the West Africa Coastal Areas Resilience Investment Project 2.

The objective of the project is to enhance the socio-economic resilience of coastal communities by promoting effective coastal management practices.

Additionally, it seeks to aid the government in its endeavors to diminish the vulnerability of coastal areas and the local communities residing along the country's coastlines.

The Chairman of the Finance Committee of Parliament, Kwaku Kwarteng, has presented a motion for the approval of a $150 million loan from the International Development Association of the World Bank. This loan is intended to address challenges posed by tidal waves in coastal areas, including Keta in the Volta Region.

In addition, Parliament has also given its approval for a separate loan agreement of $200 million from the World Bank Group. This funding is earmarked for the Ghana Tree Crop Diversification Project, reflecting a commitment to supporting initiatives that promote diversification in the country's agricultural sector.