$17 Billion in concessional loans and grants extended to Ghana, 3 other African countries in 3 years – World Bank says

The World Bank has provided $17 billion in financial support to Ghana, Chad, Ethiopia, and Zambia through the International Development Association (IDA), comprising equal parts concessional loans and grants.

World Bank President Ajay Banga stated that without this assistance, these nations would face severe financial difficulties.

The World Bank aims to raise an additional $100 billion from wealthier donor countries to enhance IDA’s capacity, with Denmark already committing a 40% increase in its allocation.

However, some countries like France, Germany, and Japan may struggle to increase funding due to fiscal challenges amid currency depreciation pressures.