Ghana’s Finance Minister, Amin Adam has signed a $260 million grant to support upgrades in the nation’s utility distribution systems and boost access to clean energy solutions.
The initiative, known as the Energy Sector Recovery Program (P4R), was officially signed on Friday, October 25, 2024, with Finance Minister Dr. Mohammed Amin Adam at the forefront.
The program aims to address critical gaps in Ghana’s energy infrastructure, which have hindered the reliability of distribution networks and delayed progress on sustainable energy projects.
The P4R program, supported by the World Bank, has been in development for several years.
However, fiscal challenges in 2022 delayed its rollout, as the government sought budgetary assistance under the Development Policy Financing (DPF) program to stabilize the economy.
After restructuring the program to better align with Ghana’s priorities, P4R gained approval from Parliament in September, following a favorable presentation to the World Bank board in June.
The Finance Minister highlighted the program’s vital role in strengthening energy reforms, which he described as crucial for sustainable economic growth and resilience in the sector.
In addition to upgrading distribution infrastructure, the program includes an emphasis on expanding clean cooking options to reduce environmental impact and improve public health.
Senior officials, including the Deputy Energy Minister representatives, directors from both the Finance and Energy Ministries, and the Acting Managing Director of the Electricity Company of Ghana (ECG), joined the Finance Minister in celebrating what he called a “milestone moment” for Ghana’s energy future.
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