Ghana takes steps to bridge $156 million funding gap after USAID freeze

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Ghana takes steps to bridge $156 million funding gap after USAID freeze

9:24 CAT | 12 Feb 2025

FILE - Ghana's President John Dramani Mahama, 66, speaks with Reuters journalists in his office after general elections, in Accra, Ghana, December 13, 2024. [File photo: Reuters/Francis Kokoroko]

Ghana’s President, John Dramani Mahama, has instructed Finance Minister Cassiel Ato Forson to urgently take action to close a significant $156 million funding gap.

This directive comes in response to the recent suspension of aid by the United States Agency for International Development (USAID), a move that has impacted key development programs across the country.

According to a statement from the President’s office, the decision follows a strategic review of Ghana’s current financial landscape and the challenges posed by the aid freeze. The government is now seeking alternative solutions to bridge the funding shortfall and ensure that vital initiatives, particularly in sectors such as education, health, and infrastructure, continue without disruption.

The move signals Ghana’s commitment to maintaining progress despite external challenges, as the nation works to strengthen its financial resilience and reduce dependency on foreign aid.

Source: Reuters