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Title : Ghana Receives $250 Million From World Bank to Support its Financial Sector
link : Ghana Receives $250 Million From World Bank to Support its Financial Sector
A five-year project designed to boost Ghana's financial stability has received approval from the World Bank for a $250 million credit from the International Development Association (IDA).
The Ghana Financial Stability Project is meant to support banks and Specialized Deposit-taking Institutions (SDIs) affected by Ghana's Domestic Debt Exchange Program (DDEP) in order to strengthen the nation's Financial Sector Strengthening Strategy (FSSS).
The Ghana Financial Stability Project is expected to help undercapitalized but viable banks and SDIs right away.
It will also be accessible to other banking institutions that might need assistance in the future because of possible additional losses, therefore offering protection against unforeseen financial shocks.
You are now reading the article Ghana Receives $250 Million From World Bank to Support its Financial Sector with the link address https://gardner-one.blogspot.com/2024/06/ghana-receives-250-million-from-world.html
Title : Ghana Receives $250 Million From World Bank to Support its Financial Sector
link : Ghana Receives $250 Million From World Bank to Support its Financial Sector
Ghana Receives $250 Million From World Bank to Support its Financial Sector
A five-year project designed to boost Ghana's financial stability has received approval from the World Bank for a $250 million credit from the International Development Association (IDA).
The Ghana Financial Stability Project is meant to support banks and Specialized Deposit-taking Institutions (SDIs) affected by Ghana's Domestic Debt Exchange Program (DDEP) in order to strengthen the nation's Financial Sector Strengthening Strategy (FSSS).
Ghana's economy is greatly influenced by the financial sector, which provides essential services to the government, companies, and people, therefore promoting growth in the economy.
The Ghanaian government created the Ghana Financial Sector Stability Fund (GFSF) to alleviate the significant impacts of the DDEP on financial institutions.
This fund seeks to offer banks, insurance firms, pension funds, fund managers, and collective investment schemes solvency help.
The Ghanaian government created the Ghana Financial Sector Stability Fund (GFSF) to alleviate the significant impacts of the DDEP on financial institutions.
This fund seeks to offer banks, insurance firms, pension funds, fund managers, and collective investment schemes solvency help.
It will also be accessible to other banking institutions that might need assistance in the future because of possible additional losses, therefore offering protection against unforeseen financial shocks.
Together, the World Bank's Development Programme Financing series and the IMF-Extended Credit Facility seek to improve the macroeconomic environment, enabling financial institutions to function successfully and create internal capital.
It also fits in with other World Bank-funded initiatives in Ghana meant to stimulate the economy and create jobs, such as the Ghana Development Financing Project, which helped the Development Bank of Ghana be established and offers small and medium-sized businesses and corporations long-term financing.
It also fits in with other World Bank-funded initiatives in Ghana meant to stimulate the economy and create jobs, such as the Ghana Development Financing Project, which helped the Development Bank of Ghana be established and offers small and medium-sized businesses and corporations long-term financing.
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You are now reading the article Ghana Receives $250 Million From World Bank to Support its Financial Sector with the link address https://gardner-one.blogspot.com/2024/06/ghana-receives-250-million-from-world.html