Govt to receive $6.2bn from multilateral partners – Ofori-Atta

Finance Minister, Ken Ofori-Atta has disclosed that the government is expected to receive about $6.2 billion from its multilateral partners between 2023 and 2026.

While briefing the nation on the economy at the Ministry of Finance on Sunday, June 18, the Minister disclosed the government has come up with Ghana’s Post-COVID-19 Programme for Economic Growth (PC-PEG) which is backed by the International Monetary Fund and encompasses all the needed reforms to revive the economy.

Mr. Ofori-Atta indicated that the government is committed to following through with the reforms and expects a total of $2 billion from multilateral partners by the year ending 2023.

“Our commitment to these reforms is matched by our relentless pursuit of innovation and strengthened partnerships. Backed by the renewed drive for reforms, the government is working towards securing significant support from our multilateral partners.

“Altogether, and including the IMF funds, World Bank and AfDB support, we expect multilateral support of about US$2.0 billion for 2023 and US$6.2 billion between 2023 and 2026. We expect the World Bank to provide a total support of US$1.6 billion whilst the AfDB provides a total support of US$200 million over the programme period.”

The Minister further disclosed “we expect to mobilize catalytic funding of US$30 million in 2023 and US$330 million between 2023 and 2026 from bilateral creditors.”