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AFDB agreed loan worth US$81.67m to Ghana’s Eastern Corridor Road Development Programme Phase 1 project.
Africa Development Bank (AFDB) has sign a loan agreement with Ghana government to finance a road project. The loan which is worth US$81.67m is for the Eastern Corridor Road Development Programme Phase 1.
During a press briefing, Deputy Minister for Finance, Mrs Abena Osei Asare told the media about the deal before the signing process. According to her the Eastern Corridor Road Development Programme was therefore part of the government’s larger strategy for delivering excellent road network.
The 695-kilometre corridor project will connect Accra with the northern hinterland. This will reduce citizens and residents travel time to the central corridor by 200km.
Meanwhile, the Phase 1 of the project covers the construction of roads and community development along. This includes Dufor Adidome- Asikuma Junction (39.2km), Asutuare-Aveyime (23.9km) and the construction of two interchanges at Dufor Adidome and Asikuma Junction.
BENEFITS OF THE LOAN
Over the years, Africa Development Bank (AFDB) has support Ghana with funds for its infrastructure development with over US$518 million spent in about 12 road projects. The latest loan will help improve the road as well as create a skills development for selected youth to enhance their employability and entrepreneurship.