GHANA
THE WORLD BANK
KEY HIGHLIGHTS OF IDA 16: JULY 2011 ? JUNE 2014
LENDING
- Over the last three years, new World Bank/IDA Credits and Grants totaling US$956 million supported fourteen projects.
- In FY14 (July 2013 ? June 2014), the World Bank delivered five new projects with a total credit amount of US$390.8 million.
DISBURSEMENTS
- During the last three years, The World Bank disbursed US$863.36 million from all existing credits and grants.
- Disbursement for projects active at the close of FY14 was US$246 million (equivalent to 21.5% of the US$1.144 billion of available credits and grants at the beginning of FY14).
- These disbursement amounts represent the volume of resources made available to the budget of the Government of Ghana to execute the investments and operations under various Bank-funded projects.
- Disbursement rates have improved significantly over the last two years rising from 14.2% in 2012 to 21.5% in 2014.
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IMPLEMENTATION IMPROVEMENT ACTIONS
- The World Bank is working closely with the Government to address implementation issues.Five projects with implementation challenges and slow disbursements have been identified for possible redeployment of funds to other projects of high economic and social priority and stronger performance. Action plans to improve project performance are under implementation.
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BASIC INFORMATION
- IDA credits are highly concessional and currently available to Ghana at a service charge of 1.25% per annum, with 5 years grace period and a repayment timeframe of 25 years.
- World Bank Fiscal Year (FY) starts from July to June.
- Implementation Status Reports (ISRs) are completed and disclosed for each project every six months and according to the project?s implementation schedule.
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