The Ghana Stability Fund, created to support financial institutions impacted by the Domestic Debt Exchange Programme, has received a commitment of $250 million from the World Bank, according to Finance Minister Ken Ofori-Atta.
The donor funding is part of the $1.5 billion fund, with the remainder expected to come from the government.
Mr. Ofori-Atta announced the funding at a news conference in Washington DC, following Ghana’s engagement at the Annual IMF/World Bank spring meetings.
He also noted that the African Development Bank is expected to contribute to the fund, as the government is in discussions with other development partners for further support.
The Ghana Stability Fund will provide solvency assistance and liquidity support to financial institutions affected by the shocks of the Debt Exchange Programme.