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Parliament agrees $35m World Bank loan to fight COVID-19


World Bank loan worth $35 million has been approved by Parliament. To fight the deadly Coronavirus in the country.

The funds under the rapid credit facility are aimed at fighting the COVID-19 pandemic.

President Nana Addo Dankwa Akufo-Addo in 2018 announced. That Ghana was set to exit its $1 billion bailout programme. Which was contracted by his predecessor, John Dramani Mahama with the IMF by the end of that year.

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Therefore Ghana officially exited the IMF Extended Credit Facility (ECF) programme. On April 2, 2019, and the euphoria that followed was unprecedented.

The coronavirus pandemic has pushed the government to activate all its contracts with the World Bank. And the IMF for financial support to address the burden of the virus on the Ghanaian economy.

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Source: pulseghana


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