Parliament rejects $250m Energy Sector Recovery Programme loan over $90m consultancy fee

Parliament has rejected a $250 million loan from the International Development Association (IDA) of the World Bank Group for Ghana's Energy Sector Recovery Programme.

The loan aimed to reduce electricity purchase costs, increase revenue collection, improve ECG’s financial management, and support the National LPG Promotion Programme.

However, Asawase legislator Muntaka Mubarak revealed that over $90 million would be spent on consultancy, leading to a halt in approval.

Initially, both Minority and Majority members of the Finance Committee had unanimously supported the loan.