The Ministry of Finance reports that the World Bank has authorised a grant of $10 million from the Energy Sector Management Assistance Programme and a $250 million credit from the International Development Association (IDA).
This is to assist the four-year Ghana Energy Sector Recovery Programme for Results (PforR), which aims to expand access to clean cooking options and strengthen the financial sustainability of electricity distribution.
According to a statement released by the ministry’s Public Relations Unit, the PforR will directly finance energy sector utilities to carry out capital expenditure programmes and supplement the regulatory and policy reforms of the energy sector that are being supported by the ongoing IMF Extended Credit Facility Programme for Ghana and the World Bank’s Development Policy Financing series.
According to the statement, Ghanaian homes, businesses, and schools would have easier access to liquid petroleum gas for both personal and commercial use by virtue of the program’s clean cooking component. Stove and accessory costs will be directly subsidised by the PforR through direct incentives.
According to the statement, “the ESRP is expected to provide a wide range of benefits to consumers, including equity and access to energy, market development, affordability, and protection against air pollution and related health risks.”