1.World Bank support:
The Government of Ghana secured $650 million from the World Bank in 2021 to meet its financial obligations in the second half of 2022. This brings total financing for the year to a total of $696.815 million.
2. Oil receipts:
A significant portion of this funding comes from oil payments received from foreign companies operating in Ghana’s offshore oil fields, which is expected to be $221 million for the period between July- December 2022.
3. External Confirmation:
The General Petroleum Fund Report by the Ministry of Finance provided confirmation that Ghana saw an increase in oil payments throughout 2019 and 2020 due to higher prices per barrel and stronger production levels, with a projected 68 percent increase rate when compared with 2018 figures according to ministry statistics
4. Rising commitment towards education
fIt has also been reported that over $100 million dollars has been allocated to educational programs in Ghana during this period by the government as part of their commitment to improve higher level education options available throughout the country
5. Boosting healthcare access:
A million will be spent on efforts to improve healthcare access across communities, including investments in hospitals, public healthcare facilities, and primary care centers
6. Infrastructure investment:
Also included among these investments is an additional $30 million set aside for infrastructure progress throughout Ghana with specific projects such as roads and bridges being financed by these funds
7. Positive outlook for African nation: All these investments are clearly indicative of a successful future ahead for ghana, cultivating both financial and social initiatives that will continue to impact people's livespostivelty for yearsaheady