GOVERNMENT HAS signed a loan agreement with the African Development Bank to provide 83 million dollars for the construction of the Pokuase Interchange as the government provides 11 million dollars.
The 94-million-dollar project is scheduled to commence in the first quarter of next year and will be completed after 36 months.
Speaking in Accra after the signing of the agreement, Finance Minister Seth Terkper stated that the project includes several social amenities such as schools, hospitals and library, hence the amount quoted.
According to him, this is the first time the African Development Bank is experiencing funding of such road projects that involve the construction of schools, hospitals, markets and recreational centres in addition.
“This is the first for the African Development Bank to be experimented in Ghana and they say they are going to take the model elsewhere. Often we quote just the amount and we think it’s just the road,” he said.
He explained that adding important amenities to the road projects will make the communities that are close to the road feel part of it and own it.
Meanwhile, Mr. Terkper has also signed a separate loan agreement with the German government to provide 40.82 million Euros to finance renewable energy projects and strengthen financial management capacities of the Ghana Revenue Authority and the Ghana Audit Service.