The Bank of Ghana (BoG) has received the initial installment of $600 million from the Extended Credit Facility (ECF), totaling $3 billion, as confirmed by the Ministry of Finance. The purpose of this funding, as stated by the Ministry, is to aid in the restoration of macroeconomic stability, support the country’s debt sustainability, and establish a solid basis for inclusive growth.
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The Ministry announced on Saturday, May 20, through a tweet that Ghana has received the first tranche of $600 million from the low-interest ECF of $3 billion, which will contribute towards the goals of macroeconomic stability, debt sustainability, and inclusive growth.
“The first tranche of $600million of Ghana’s low interest of $3billion Extended Credit Facility has been received to help restore macroeconomic stability, sustain the country’s debts and lay a strong foundation for inclusive growth,” the Ministry posted on their twitter page on Saturday, May 20.
