PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

608121

Primary Business Area

Financial Institutions Group

Disclosure Date

Jun 18, 2024

Country

Ghana

Region

Africa

IFC Approval Date

Mar 15, 2024

Status

Active

Estimated Total Budget

$436,500.00
(Project budget includes all project-funded activities)

Last Updated Date

Jun 19, 2024

Project Estimated Start Date

Jan 1, 2024

Project Estimated End Date

Dec 31, 2026

Project Description

This project is designed to support the implementation of Ghana's Corporate Insolvency & Restructuring Act, 2022, aiming to strengthen the country's legal and regulatory framework for business recovery and insolvency resolution. The initiative will involve technical assistance and advisory support to the Insolvency Service Division (ISD) of the ORC, GARIA, and the commercial division of the High Court of Ghana. It will also encompass preliminary work for the operationalization of a robust framework to manage non-performing loans (NPLs), including diagnostics and stakeholder coordination. Furthermore, the project will include capacity building and awareness-creation activities to ensure a comprehensive approach to enhancing the insolvency resolution process for the private sector in Ghana.

Development Results

E&S Risks / Impacts and Mitigation