Finance Ministry Claims Akufo-Addo Administration Diverted $65m World Bank Flood Loan to COVID-19
- The Ministry of Finance disclosed that the Akufo-Addo government redirected $65m from a World Bank flood protection loan to finance COVID-19 spending
- Technical Advisor Frederick Amissah said the diversion was unjustified, as the government had other funding options
- Of the $65 million diverted from the GARID Project, $60.8 million has been retired, with $4.2 million still outstanding
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Ghana's Ministry of Finance has confirmed that the previous Akufo-Addo administration redirected $65 million from a World Bank loan designated for flood protection in Accra towards funding COVID-19 pandemic activities.
Frederick Amissah, a Technical Advisor at the Ministry, made the disclosure, revealing that nearly half of the $137 million drawn down from the $350 million Greater Accra Resilient and Integrated Development (GARID) Project facility was channelled into pandemic-related expenditure, including fumigation exercises.
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In a report sighted on GhanaWeb, Amissah dismissed suggestions that slow disbursements were responsible for stalling the GARID Project, insisting that funds had been released on schedule.
His remarks instead pointed to deliberate misapplication as the core problem.
He argued that redirecting the loan was wholly unjustifiable given that the government had several other financing avenues at its disposal at the time, among them the Stabilisation Fund, support from the International Monetary Fund, and facilities from the African Development Bank.
Of the $65 million diverted, $60.8 million has since been retired, leaving an outstanding balance of $4.2 million yet to be accounted for.
Mahama administration uncovers misuse of funds
The Ministry stated that the Mahama administration, upon assuming office in 2025, identified multiple instances of misapplied funds across various government projects.
One such case involved the Ghana Economic Transformation (GET) Project, under which close to GH¢1 billion was allegedly spent on travel expenditure in 2024 alone.
Amissah concluded that financing pandemic activities through loan facilities of this nature contributed significantly to the deterioration of Ghana's national debt position, compounding the fiscal pressures the country had already been experiencing.
How Akufo-Addo addressed flooding in Ghana
Meanwhile, YEN.com.gh reported that Richard Ahiagba, the Director Communication for the NPP, had said that the Akufo-Addo–Bawumia administration treated Accra’s flooding as a long-term structural challenge.
He outlined major interventions by the erstwhile government, including drainage works, Odaw River dredging, and plans for detention ponds.
Richard also questioned delays under the current administration as fresh flooding hits Accra and other southern communities.
Source: YEN.com.gh
