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US $330 million for economy, roads

    ABIDJAN

    The World Bank has approved two financial packages aimed at enhancing Ghana’s economy and restructuring its national road network, the World Bank said in a statement on Friday. US $110 million will go towards reducing domestic and foreign debt, cutting the deficits of key state-owned enterprises and reforming other sectors such as banking and the cocoa industry.

    The remaining US $220 million is to be used to repair damaged roads, improve circulation, contribute to economic activities and facilitate delivery of social services. It is also to go towards developing a road safety programme to reduce fatalities.

    The two packages will be financed by the International Development Association, the World Bank’s lending arm to poor countries.

    This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions

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