The World Bank board has approved a US$215 million Poverty Reduction Support Credit (PRSC) to the Government of Ghana. The goal of the credit is to support the government’s efforts to consolidate ongoing fiscal stabilization and promote the development objectives set in the Ghana Shared Growth and Development Agenda (GSGDA) Ghana’s National Medium Term Development Policy Framework for 2010-2013. Over the last decade Ghana has received a total of six Poverty Reduction Support Credits from the World Bank, averaging US$100 million per year in budget support between 2003 and 2008, to support implementation of the Ghana Poverty Reduction Strategy (GPRS I and II). After the fiscal crisis of 2008, an agreement was reached to increase budget support in a countercyclical manner to help Ghana reduce its macro-imbalances in a way that does not hurt growth, the process of job creation, and the poor. Accordingly, a record total support of US$300 million was delivered in 2009, and US$215 million no...