World Bank pledges $3bn investment in Ghana’s economy

The World Bank Group has committed to investing over $3 billion in Ghana’s economy to enhance economic growth, with a focus on agriculture, energy, education, and private sector development.

“We are working with the government and with your private sector to look at how we can support them in investment and in lending,” Mr. Paschal Donohoe, Managing Director of the World Bank Group, said on Wednesday.

Speaking in Parliament during an engagement with Mr. Bernard Ahiafor, the First Deputy Speaker of Parliament, Mr. Donohoe emphasised the Bank’s commitment to building a long-term, sustainable relationship with Ghana, citing plans to publish a report on growth and jobs, investing in agriculture, irrigation, transport, and training to create jobs.

He said, “This is a relationship of partnership where we share the ambition that you have for your economy and for your people.”

The Managing Director highlighted the Bank’s ongoing investment in education to equip young people with future skills.

“What we want to do is to continue to engage with your government and how we can build this relationship,” Mr. Donohoe said.

Mr. Alexander Kwamena Afenyo-Markin, the Minority Leader, called for structured equal inclusion of both Minority and Majority Committee members in capacity-building initiatives.

Mr. Mahama Ayariga, the Majority Leader, welcomed the investment in agriculture and urged the private sector to take advantage of stability to expand and create jobs.

Parliament has, meanwhile, passed the Ghana Deposit Protection (Amendment) Bill, 2025 aimed at safeguarding depositors’ funds and strengthening confidence in the financial sector.

The legislation follows the financial sector clean-up, during which government spent over GH¢21 billion between 2017 and 2020 to pay depositors affected by the collapse of banks and other financial institutions.

The intervention has been necessary to protect savings and restore stability in the financial system.

The amendment revises the Ghana Deposit Protection Act, 2016 (Act 931), and empowers the Ghana Deposit Protection Corporation (GDPC) to insure depositors’ funds.

This measure is expected to enhance financial inclusion, promote stability, and protect the savings of ordinary Ghanaians.

 

Mr Thomas Nyarko Ampem, Deputy Minister of Finance, said the legislation would augment the relevance of the Ghana Deposit Protection Scheme by enhancing the mandate of the Corporation.

He explained that the amendment would ensure emergency funding and provide a financial backstop for the GDPC.

Government believe that the strengthened framework would guarantee that depositors are not left vulnerable in the event of future bank failures, while reinforcing accountability and trust in the financial system.

The passage of the bill marks another step in government’s efforts to consolidate reforms in the financial sector and build resilience against systemic risks.

GNA

 

 

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