A $150 million loan agreement for the West Africa Coastal Areas Resilience Investment Project 2 has been approved by Parliament from the World Bank’s International Development Association.

The project intends to support government efforts to lessen the vulnerability of coastal areas and local communities living along the country’s coastlines, as well as to strengthen the socioeconomic resilience of coastal communities through good coastal management practices.

In his motion to approve the loan, Kwaku Kwarteng, the Chairman of Parliament’s Finance Committee, stated that the loan would assist in mitigating the effects of tidal waves in coastal regions like Keta in the Volta Region.

The World Bank Group’s $200 million loan agreement for the Ghana Tree Crop Diversification Project was also approved by the house.