A loan agreement of $150 million from the International Development Association of the World Bank for the West Africa Coastal Areas Resilience Investment Project 2, has been approved by parliament.
The project forms part of the efforts to strengthen the socioeconomic resilience of coastal communities through good coastal management practices.
It is also aimed at supporting the government’s efforts to reduce the vulnerability of coastal areas and local communities living along the country’s coastlines.
The Chairman of the Finance Committee of Parliament, Kwaku Kwarteng, moved the motion on the floor of parliament.
According to him, the project would help deal with tidal waves in coastal areas such as Keta in the Volta Region.
The house also approved a loan agreement of $200 million from the World Bank Group for the financing of the Ghana Tree Crop Diversification Project.