World Bank wades into Development Bank of Ghana challenge

The World Bank Group has publicly introduced its curiosity within the matter concerning the Development Bank of Ghana (DBG), that was set as much as present capital to the personal sector. The DBG has been within the information over allegations of getting misused and misapplied funds meant for personal sector lending, which is its principal mandate, operating into a number of hundred million US {dollars}.

The DBG is alleged to have given questionable contracts and consultancies, to together with one offshore firm. Officials of the DBG have denied the allegations

The World Bank which is without doubt one of the financiers of the DBG has issued an announcement saying it’s participating stakeholders to get clarification on the matter.

In an announcement issued immediately and copied to Ghana Ghana Business News, the World Bank mentioned it has been made conscious of allegations surrounding the operation of the DBG, a beneficiary below the Ghana Development Finance Project supported by IDA.

“We take all fiduciary issues very seriously and we are engaging key partners to obtain full clarifications,” the World Bank mentioned.

By Emmanuel Ok Dogbevi