Ghana ranked 7th globally as biggest beneficiary of World Bank funding

Ghana is ranked 7th in the world as the biggest beneficiary of World Bank funding.

The country has received a total of US$11.2 billion of the International Development Association (IDA) funding from 1961 to 2024.

Ethiopia (US$23.4 billion), Nigeria (US$18.8 billion) and Vietnam (US$18.5 billion) are ranked 1st, 2nd 3rd respectively.

China is ranked 8th with IDA funding of US$10.2 billion.

Eight of the 10 biggest beneficiary countries are from Sub-Sahara Africa.

Since its establishment in 1960, IDA, the World Bank's lending arm, has provided a total of over US$287 billion in funding to support development in the world's poorest countries, with a focus on reaching remote and underserved areas of the continent.

Over the IDA’s lifetime, African countries have accounted for approximately 73% of total IDA disbursements, totaling just over US$210 billion. The second region with the highest amount received from the IDA is East Asia with US$41.8 billion accounting for 14.5% of the lending.

Europe and central Asia received US$17.5 billion representing 6.1%, Latin America and the Caribbean getting US$11.2 billion (3.9%).

The Middle East received the least amount of US$7.1 billion, representing 2.5% of the lending.

Source: Joy Business