Korea to support Ghana with $2bn loan to improve the economy

A Deputy Finance Minister, Stephen Amoah has revealed that Ghana is expecting a US$2 billion concessionary loan from South Korea aimed at supporting the country’s economic transformation.

This loan is expected to complement other financial injections, including US$360 million from the International Monetary Fund (IMF) and an additional US$300 million from the World Bank.

Korea to support Ghana with $2bn loan to improve the economy
Korea to support Ghana with $2bn loan to improve the economy

Together, these funds are intended to bolster the economy and help stabilise the depreciating cedi.

Speaking in an interview with Asaase Radio on Thursday, June 13, Mr Amoah expressed confidence in the transformative impact of these financial arrangements.

He credited the substantive Finance Minister for his role in securing these funds, emphasising the importance of such international support in Ghana’s economic strategy.

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