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Economic Governance and Poverty Reduction Credit

Abstract*

The Economic Governance and Poverty Reduction Credit (EGPRC) Program for Ghana aims to support the authorities' efforts, in the midst of the current global crisis, to bring their fiscal stance to a sound and sustainable track and protect the development objectives set in Ghana's Second Growth and Poverty Reduction Strategy (GPRS II) for the period 2006-2009. The GPRS II emphasizes the centrality of private-led growth to reduce poverty, along with...

* The project abstract is drawn from the PAD, SAR or PGD and may not accurately reflect the project's current nature

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Development Objective

The main development objectives of the proposed grant are to: support the authorities# efforts, in the midst of the current global crisis, to bring their fiscal stance to a sound and sustainable track and protect the development objectives set in Ghana#s Second Growth and Poverty Reduction Strategy (GPRS II) for the period 2006-2009. The GPRS II emphasizes the centrality of private-led growth to reduce poverty, along with human development and governance efforts to promote equity. While EGPRC would translate primarily into funding for the GPRS II implementation, particular attention is given to: (i) restoring budgetary discipline and (ii) tackling long-standing public sector and energy issues, while (iii) protecting the poor.

Key Details

Project Details

  • P113301

  • Closed

  • Sebastien Dessus

  • N/A

  • Ghana

  • April 2, 2009

  • (as of board presentation)

    June 30, 2009

  • July 16, 2009

  • US$ 300.00 million

  • N/A

  • Not Applicable

  • June 30, 2010

  • BANK APPROVED

  • August 31, 2023

  • Notes

Finances

Financing Plan (US$ Millions)

No data available.
Financier Commitments
IDA Credit 300.00

Total Project Financing (US$ Millions)

Product Line IBRD/IDA
IBRD Commitment N/A
IDA Commitment 300.00
IBRD + IDA Commitment 300.00
Lending Instrument
Grant Amount N/A
Total Project Cost** 300.00

Summary Status of World Bank Financing (US$ Millions) as of July 31, 2025

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No data available.
Financier Approval Date Closing Date Principal Disbursed Repayments Interest, Charges & Fees

Detailed Financial Activity as of July 31, 2025

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No data available.
Period Financier Transaction Type Amount (US$)
Jul 18, 2023 IDA-46340 Int Charges 2,848.53
Jul 18, 2023 IDA-46340 Int Charges 2,848.53
Jul 18, 2023 IDA-46340 Int Charges 846,941.44
Jul 18, 2023 IDA-46340 Int Charges 846,941.44
Jul 18, 2023 IDA-46340 Int Charges 41,919.76
Jul 18, 2023 IDA-46340 Int Charges 41,919.76
Jul 18, 2023 IDA-46340 Loan Repay 3,283,432.20
Jan 15, 2024 IDA-46340 Int Charges 202.29
Jan 15, 2024 IDA-46340 Int Charges 39,020.44
Jan 15, 2024 IDA-46340 Int Charges 39,020.44
Jan 15, 2024 IDA-46340 Loan Repay 3,236,581.20
Jan 15, 2024 IDA-46340 Int Charges 202.29
Jan 15, 2024 IDA-46340 Int Charges 831,700.30
Jan 15, 2024 IDA-46340 Int Charges 831,700.30
Jun 30, 2009 IDA-46340 Loan Commitment 300,000,000.00
Aug 11, 2020 IDA-46340 Int Charges 16,665.37
Aug 11, 2020 IDA-46340 Loan Repay 3,414,853.00
Feb 12, 2021 IDA-46340 Int Charges 161,431.90
Feb 12, 2021 IDA-46340 Int Charges 161,431.90
Feb 12, 2021 IDA-46340 Loan Repay 3,490,217.00
Feb 12, 2021 IDA-46340 Int Charges 1,890.52
Feb 12, 2021 IDA-46340 Int Charges 1,890.52
Feb 12, 2021 IDA-46340 Int Charges 940,084.10
Feb 12, 2021 IDA-46340 Int Charges 940,084.10
Aug 5, 2021 IDA-46340 Int Charges 984,914.90
Aug 5, 2021 IDA-46340 Int Charges 67,049.06
Aug 5, 2021 IDA-46340 Int Charges 67,049.06
Aug 5, 2021 IDA-46340 Loan Repay 3,455,841.50
Aug 5, 2021 IDA-46340 Int Charges 1,943.90
Aug 5, 2021 IDA-46340 Int Charges 1,943.90
Aug 5, 2021 IDA-46340 Int Charges 984,914.90
Jan 15, 2022 IDA-46340 Loan Repay 38,377.89
Jul 15, 2022 IDA-46340 Loan Repay 12,906.41
Feb 2, 2022 IDA-46340 Loan Repay 3,355,038.00
Feb 2, 2022 IDA-46340 Int Charges 1,413.85
Feb 2, 2022 IDA-46340 Int Charges 1,413.85
Feb 2, 2022 IDA-46340 Int Charges 954,343.10
Feb 2, 2022 IDA-46340 Int Charges 954,343.10
Sep 14, 2022 IDA-46340 Int Charges 1,100.61
Sep 14, 2022 IDA-46340 Int Charges 1,100.61
Sep 14, 2022 IDA-46340 Int Charges 872,175.75
Sep 14, 2022 IDA-46340 Int Charges 872,175.75
Sep 14, 2022 IDA-46340 Loan Repay 3,130,186.50
Feb 28, 2023 IDA-46340 Loan Repay 3,117,343.00
Jan 15, 2023 IDA-46340 Loan Repay 103,151.65
Feb 28, 2023 IDA-46340 Int Charges 3,940.57
Feb 28, 2023 IDA-46340 Int Charges 3,940.57
Feb 28, 2023 IDA-46340 Int Charges 840,102.44
Feb 28, 2023 IDA-46340 Int Charges 840,102.44
Jul 15, 2017 IDA-46340 Int Charges 5,731.43
Jul 15, 2017 IDA-46340 Int Charges 5,731.43
Jul 15, 2017 IDA-46340 Int Charges 990,177.70
Jul 15, 2017 IDA-46340 Int Charges 990,177.70
Jan 15, 2018 IDA-46340 Int Charges 15,061.44
Jan 15, 2018 IDA-46340 Int Charges 15,061.44
Jan 15, 2018 IDA-46340 Int Charges 1,026,643.80
Jan 15, 2018 IDA-46340 Int Charges 1,026,643.80
Jul 19, 2018 IDA-46340 Int Charges 14,386.91
Jul 19, 2018 IDA-46340 Int Charges 14,386.91
Jul 19, 2018 IDA-46340 Int Charges 1,015,582.25
Jul 19, 2018 IDA-46340 Int Charges 1,015,582.25
Jan 15, 2019 IDA-46340 Int Charges 22,693.62
Jan 15, 2019 IDA-46340 Int Charges 22,693.62
Jan 23, 2019 IDA-46340 Int Charges 981,435.06
Jan 23, 2019 IDA-46340 Int Charges 981,435.06
Jan 21, 2020 IDA-46340 Int Charges 3,429.48
Jan 21, 2020 IDA-46340 Int Charges 3,429.48
Jan 21, 2020 IDA-46340 Loan Repay 3,342,323.20
Jan 21, 2020 IDA-46340 Int Charges 278.52
Jan 21, 2020 IDA-46340 Int Charges 278.52
Jan 21, 2020 IDA-46340 Int Charges 973,851.90
Jan 21, 2020 IDA-46340 Int Charges 973,851.90
Jul 19, 2019 IDA-46340 Int Charges 1,001,961.75
Jan 18, 2017 IDA-46340 Int Charges 972,837.44
Jan 18, 2017 IDA-46340 Int Charges 972,837.44
Jul 19, 2019 IDA-46340 Int Charges 1,001,961.75
Jul 19, 2019 IDA-46340 Int Charges 7,675.85
Jul 19, 2019 IDA-46340 Int Charges 7,675.85
Jul 19, 2019 IDA-46340 Loan Repay 3,351,335.00
Aug 11, 2020 IDA-46340 Int Charges 426.85
Aug 11, 2020 IDA-46340 Int Charges 426.85
Aug 11, 2020 IDA-46340 Int Charges 840,898.30
Aug 11, 2020 IDA-46340 Int Charges 840,898.30
Aug 11, 2020 IDA-46340 Int Charges 16,665.37
Jul 15, 2013 IDA-46340 Int Charges 10,393.25
Jul 15, 2013 IDA-46340 Int Charges 10,393.25
Jul 15, 2013 IDA-46340 Int Charges 1,083,052.90
Jul 15, 2013 IDA-46340 Int Charges 1,083,052.90
Jan 24, 2014 IDA-46340 Int Charges 6,420.21
Jan 24, 2014 IDA-46340 Int Charges 6,420.21
Jan 24, 2014 IDA-46340 Int Charges 1,110,323.60
Jan 24, 2014 IDA-46340 Int Charges 1,110,323.60
Jan 15, 2015 IDA-46340 Int Charges 7,654.95
Jan 15, 2015 IDA-46340 Int Charges 7,654.95
Jan 16, 2015 IDA-46340 Int Charges 1,026,188.40
Jan 16, 2015 IDA-46340 Int Charges 1,026,188.40
Aug 8, 2014 IDA-46340 Int Charges 1,113,322.90
Aug 8, 2014 IDA-46340 Int Charges 1,113,322.90
Aug 8, 2014 IDA-46340 Int Charges 11,007.93
Aug 8, 2014 IDA-46340 Int Charges 11,007.93
Jul 15, 2015 IDA-46340 Int Charges 30,191.36
Jul 15, 2015 IDA-46340 Int Charges 30,191.36
Jul 17, 2015 IDA-46340 Int Charges 980,860.90
Jul 17, 2015 IDA-46340 Int Charges 980,860.90
Jan 15, 2016 IDA-46340 Int Charges 18,011.21
Jan 15, 2016 IDA-46340 Int Charges 18,011.21
Jan 19, 2016 IDA-46340 Int Charges 985,471.00
Jan 19, 2016 IDA-46340 Int Charges 985,471.00
Jul 15, 2016 IDA-46340 Int Charges 2,397.90
Jul 15, 2016 IDA-46340 Int Charges 2,397.90
Jul 15, 2016 IDA-46340 Int Charges 1,010,633.44
Jul 15, 2016 IDA-46340 Int Charges 1,010,633.44
Jan 15, 2017 IDA-46340 Int Charges 12,391.08
Jan 15, 2017 IDA-46340 Int Charges 12,391.08

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name Review Date
Program Management Satisfactory 2010-06-29
Progress towards achievement of PDO Satisfactory 2010-06-29
Monitoring and Evaluation Satisfactory 2010-06-29

COMPLETION RATINGS

INDICATORIMPLEMENTATION COMPLETION & RESULTS REPORT: 03-31-2011
OutcomesSubstantial
Risk to Development OutcomeModest
Bank PerformanceModerately Satisfactory
Borrower PerformanceSubstantial
Government PerformanceSubstantial
Implementing AgencySubstantial

INDEPENDENT EVALUATION RATINGS

INDICATORICR REVIEW: 06-27-2016PROJECT PERFORMANCE ASSESSMENT REPORT: 06-23-2011
Outcome RatingModerately Satisfactory Satisfactory
Risk To Development OutcomeHighModerate
Bank PerformanceModerately SatisfactoryModerately Satisfactory
Borrower PerformanceModerately SatisfactorySatisfactory
Government PerformanceNot RatedSatisfactory
Implementing AgencyModerately SatisfactorySatisfactory
Icr QualityNot RatedSatisfactory
M&e QualityNot RatedModest

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATORBASELINECURRENTTARGET
  • reduced fiscal deficit as percentage of GDP between 2008 and 2009 (budget deviation as measured by the ratio of actual over budgeted fiscal deficit)ValueMid-Year : 2.00Full-Year : 2.60Mid-Year : 1.06Mid-Year : 1.00Full-Year : 1.00
    DateDecember 31, 2008November 19, 2009December 31, 2009
    Comment
  • increased share of propoor expenditure in total public expenditure between 2008 and 2009 (ratio of actual over budgeted)ValueFull-Year: 0.91Mid-Year : 0.95Mid-Year : 0.93Full-Year : 0.95
    DateDecember 31, 2008November 19, 2009December 31, 2009
    Comment
  • increased share of public transactions complying with public procurement lawValue70 percent97 percent80 percent
    DateDecember 31, 2007December 31, 2008December 31, 2008
    Comment
  • Comprehensive and detailed fiscal account for 2009 available on internetValueNo fiscal account available on the internetComprehensive and detailed fiscal account for JanuComprehensive and detailed fiscal account for 2009
    DateMay 31, 2009November 30, 2009December 31, 2009
    Comment
  • Net Hiring Freeze in the public sector, excluding trainees in education and healthValue455,000 public sector employeesEmployment audits not yet finalized455,000 public sector employees (excluding trainee
    DateDecember 31, 2008November 30, 2009December 31, 2009
    Comment
  • Satisfactory budget execution of item 1 (personal emoluments), ratio actual over budget expendituresValueFull-Year: 1.27Mid-Year : 1.02Mid-Year : 1.00Full-Year : 1.00
    DateDecember 31, 2008November 19, 2009December 31, 2009
    Comment
  • Operations accounts of VRA and ECG improved (ratio of operation costs over operation revenues)ValueVRA =1.13ECG = 0.95Intermediate audited accounts not availableVRA < 1.13ECG < 0.95
    DateDecember 31, 2008November 30, 2009December 31, 2009
    Comment
  • Reduced public subsidies to the operations of the energy sectorValue1.5 percent of GDP (including lifeline program)0.2 percent of GDP (Jan-Sep 2009, including lifeli0.0 percent of GDP (excluding lifeline program; or
    DateDecember 31, 2008November 30, 2009December 31, 2009
    Comment
  • Increased number of LEAP beneficiaries after June 2008Value1,842 households24,346 households (regular beneficiaries) + 6,000 > 1,842 households
    DateJune 4, 2008October 30, 2009June 30, 2009
    Comment
  • Measure of pro-poor expenditures in 2009 budget after re-classification posted on the MOFEP website; revised classification used inbudget 20102Valuen.a.Measure posted after reclassification for the periMeasure posted after reclassification for the fisc
    DateDecember 31, 2008November 30, 2009December 31, 2009
    Comment

INTERMEDIATE RESULTS INDICATORS

INDICATORBASELINECURRENTTARGET
  • Fiscal deficit (as a percentage of GDP)Value14.5 percent of GDP6.6 percent of GDP (Jan-Sep 2009)9.4 percent of GDP
    DateDecember 31, 2008November 19, 2009December 31, 2009
    Comment