Ghana has achieved $250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG).
This was possible after the World Bank Board of Executive Directors gave their approval to support the establishment
This initiative is expected to increase access to long term finance and boost job creation for 10,000 enterprises in key sectors of the economy such as agribusinesses, manufacturing and high value services.
The project will also strengthen the oversight of development finance institutions and the adoption of Environmental and Social standards by financial institutions.
The World Bank’s International Development Association (IDA) was established in 1960, and provides grants and loans to the world’s poorest countries with the aim of improving economies and reducing poverty.