The International Finance Corporation (IFC) is preparing to invest US$150 million in projects linked to Ghana’s Volta River and railway network, IFC Managing Director Makhtar Diop has announced.

The investment includes US$100 million for a project in the Volta Ecological Zone and another US$50 million for a railway project aimed at improving the movement of goods towards northern Ghana and connecting the country to Burkina Faso.

He made the announcement on the sidelines of the 81st United Nations General Assembly (UNGA) in New York on Monday, September 21, 2026.

Diop said President John Dramani Mahama had raised the need to complete a missing seven-kilometre section of railway that would connect existing rail lines to the Volta River.

Mahama did the 'right things' to turn Ghana's economy around – Dangote

According to him, the completed link would allow goods to be transported through the river towards northern Ghana and eventually into Burkina Faso.

He said the IFC had already engaged a private investor involved in the project and was preparing to sign the two investment deals.

“So he asked me that question, and he told me there are some private investors there who are ready to do that. I went to meet one of them; they were one of our clients, and at the beginning we came, and we were discussing a project, we were just signing 100 million dollars, and we are about to sign another 50 million dollar project,” he said.

The announcement follows a meeting between Diop and Finance Minister Dr Cassiel Ato Forson on September 16, during which they discussed ways to attract more private investment into Ghana.

Diop said Ghana’s progress in reducing debt and easing inflationary pressures had created better conditions for attracting both local and foreign investors.

He said the IFC currently has a US$1.2 billion pipeline of potential investments in Ghana and plans to increase its support.

“The minister gave me a list of sectors in which he would like IFC to continue supporting them. At the top of it is energy, infrastructure, agriculture and to be able to create jobs in this country,” he said.

He also said the corporation wanted to support Ghana to produce more of the goods it currently imports, particularly poultry.

According to him, Ghana has the potential to become more self-sufficient in poultry production if the sector can produce competitively.

The IFC also plans to support local businesses through its Local Champions initiative, which seeks to help African businesses expand and attract more investment within the continent.

Kenya ready to break ground on $17 billion East Africa refinery – Ruto

Diop said the IFC’s discussions with the government had produced new ideas to attract foreign investors while strengthening existing Ghanaian businesses.

The latest investment plans come as the government seeks to attract more private capital into the economy following its economic reforms.

DR/MA

Foundries, Machines and Jet Engines: Ghana’s untapped engineering potential