RTTNews - The World Bank on Tuesday approved financial support worth $535 million for Ghana to help the country to improve economic governance and to stabilize the economy.

Of the total amount approved, $300 million would be spent to improve economic governance and to reduce poverty. $225 million is set aside for transport sector project and the remaining $10 million would go for improving natural resources and environmental governance.

These first set of credits are part of $1.2 billion the Bank plans to support the government of Ghana with over the next three years, the World Bank said in a note.

The Bank said Ghana's government is currently faced with a difficult macro-economic situation, the consequence of combination of domestic and external shocks.

For comments and feedback: contact editorial@rttnews.com