In general, the World Bank Group yesterday welcomed the Official Creditors' Committee's agreement on important details of Ghana's proposed debt restructuring under the G20 Common Framework.

In line with the Joint WB-IMF Debt Sustainability Framework, this agreement is a significant step toward the nation's return to debt sustainability.

“This agreement will help unlock financial support by international financial institutions, including a US$300million budget support operation supported by IDA that will be considered by the World Bank’s Board of Executive Directors next week. This will help Ghana in its recovery, attracting investments and restoring a sustainable growth path,” said Ousmane Diagana, World Bank Vice President for Western and Central Africa.

The Resilient Recovery Development Policy Operation marks the initial phase of a trilogy, amounting to US$900 million. It is a pivotal component of the World Bank's extensive involvement, aiding crisis response and fostering resilience in Ghana.

Ghana is actively executing US$4.3 billion in commitments from the World Bank, channeling resources into national and regional projects.

These initiatives are concentrated on catalyzing private sector development and job creation, facilitating inclusive service delivery, and promoting sustainable, resilient development.