Parliament has approved a $250 million loan agreement from the World Bank to support the Ghana Energy Sector Recovery Programme.
Initially rejected before the parliamentary recess, the loan was a key topic during the two-day emergency session that led to Parliament’s recall.
The loan aims to tackle major challenges in Ghana’s energy sector, including stabilizing operations, resolving financial issues, and ensuring a reliable electricity supply for households and businesses nationwide.
During the debate, the Minority expressed strong concerns about a $90 million consultancy fee included in the agreement, which they considered excessive and called for further scrutiny before approval.
Despite these objections, the loan was ultimately approved. The Majority emphasized the urgent need for financial support to address critical issues within the energy sector, arguing that the recovery programme is essential for maintaining energy supply, reducing debt, and promoting economic growth.
