Business News of Monday, 8 June 2020Source: goldstreetbusiness.comTourism Ministry announces US$9m World Bank support for sectorTourism Minister, Barbara Oteng GyasiThe Ministry of Tourism, Arts and Culture (MoTAC) has announced a US$9 million World Bank facility to cushion the country’s tourism development under the Ghana Tourism Project by government. Tourism Minister, Barbara Oteng Gyasi, at a media briefing to provide details of the sector in this COVID-19 era and government initiatives towards alleviating losses in the tourism sector, said, US$4 million of the facility will be used for the development of tourism sites and information and US$5 million for tourism enterprise support. Meanwhile, the Ministry also affirmed that players in the tourism industry could also apply and access the GHc3 billion provided by selected commercial banks in the country. Indeed Ghana, according to the Ministry of Tourism has lost an estimated tourism revenue of US$171 million from late March to May because of the global coronavirus pandemic and little to no domestic patronage. Total revenue from tourist arrivals in year 2019 according to the Ghana Tourism Authority (GTA), was valued at US$3.312 billion.

Source: GhanaWeb June 08, 2020 00:33 UTC