GHANA GOVERNMENT TO RELEASE FUND FOR OUTSTANDING ROAD DEBT
Outstanding Road debt set to be paid after fund collaboration between Ministry of Roads and Highways and Ghana Cocoa Board.
Plans are in motion from Ghana Government to release US$1billion to pay debt for road construction. This was announced by the Minister of Roads and Highways, Kwasi Amoako-Attah during a three-day strategic management workshop.
During the event ‘Ghana Beyond Aid: Strategies for sustainable investment and road asset preservation’, the minister said funding for road project was limited. He also said they have been embarking on a project since 2017 but lack adequate fund to actualize it.
The plan is a collaborate with Ghana Cocoa Board to fund all cocoa roads and pay all outstanding road debt. This will be for debt owed for the past three years which is worth US$777million.
Yaw Osafo-Maafo who is a Senior Minister said the need to undertake massive infrastructure is one key aspect of the government. He also said expanding of infrastructure development will help transform the economy.
The current stagnation in the road sector is a wake-up call to the ministry according to him. That it is necessary to develop creative and innovative solutions to complement government’s efforts.
The event was praised as a timely one because it will ensure more strategic commitment in dealing with the problems. Such problem that are associated with the road networks, irregular maintenance and deterioration.
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