Like many African nations, Ghana is actively working to expand energy access, particularly through reforms and the promotion of clean cooking solutions.
$260 Million Investment from the World Bank
Ghana has received $260 million in funding from the World Bank to support its energy policy, specifically the reforms aimed at strengthening its energy sector and promoting clean cooking solutions.
The investment includes $250 million in credits from the International Development Association (IDA), a member of the World Bank Group, along with a $10 million grant from the Energy Sector Management Assistance Program.
Focus on Improving Energy Sector Efficiency
The funds are intended to enhance the efficiency of Ghana’s energy sector, with a particular focus on revenue generation and addressing challenges related to electricity distribution.
“Through this results-based financing, the World Bank is committed to supporting the recovery of Ghana’s energy sector and its financial sustainability,” said Robert Taliercio, World Bank Country Director for Ghana, Liberia, and Sierra Leone.
Expanding Access to Clean Cooking Solutions
The funding also aims to increase access to more affordable clean cooking solutions in Ghana. A study published in March 2024 by the International Journal of Energy Economics and Policy (IJEEP) emphasized the need to accompany the use of clean cooking solutions in Africa with “poverty reduction and development measures.”