The African
Development Fund (ADF) has approved $81.67 million loan facility to co-finance
sections of the 695-km Eastern Corridor road in Ghana, linking the capital
Accra with the northern hinterland and across the borders to the Sahel region.
The decision was taken by the African Development Bank (AfDB) Group’s Board of
Directors meeting on Wednesday and copied to the Ghana News Agency.
According to the release, other lenders for the project were the Opec Fund for
International Development, the Ghanaian Government and the Japan International
Cooperation Agency (JICA), which was financing a connecting bridge across the
Volta River.
The $113.27 million project covers over 60-km of roads, two interchanges and
related civil works incorporating community support initiatives to help improve
livelihoods in the catchment area.
The release said the project included rehabilitation of schools and health
facilities, construction of markets and agro-processing facilities for
livestock, fish, cassava, fruits and cereals, in addition to skills training.
Marie-Laure Akin-Olugbade, Bank Director for West Africa told the Board during
her presentation that “this interconnectivity will enhance inclusiveness to
stimulate socio-economic development, facilitate trade and promote regional
integration.”
She said the project would address the needs of an estimated 230,000 people and
impact the lives of over 5.4 million inhabitants by reducing travel and transit
time, support education and health services delivery while agricultural
potentials of the rural areas would be transformed.
“With this project we hope to turn rural areas from areas of economic
challenges to economic prosperity and bread baskets,” she said, adding that
about 1,500 direct jobs would be created.
The release said upon completion, the stretch would be tolled and axle-weighing
facilities provided to control overloading.
Mam Tut Wadda, Task Manager, said the project would build on the successful
Bank-financed Fufulso-Sawla Project in northern Ghana.
She noted that the Bank’s leadership role in transport infrastructure
development in Ghana had stimulated interest and alliances with several
development partners in the country.
Akinwumi Adesina, President of the Bank, welcomed the strong collaboration with
JICA and OFID and the opportunities for setting up of Special Agro-Industrial
Processing Zones along the Eastern Corridor.
In approving the loan, Board members noted that, the project was in line with
the Bank’s ten-year strategy and three of the “High 5” priorities and
called on the government of Ghana to ensure a successful implementation of the
project and its sustainability when completed.
In December 2017, the ADF granted Ghana a concessionary loan of $39.01 million
to finance the Savannah Zone Agricultural Productivity Improvement
Project.
The Project is to be implemented over a five-year period from 2018 to 2022.
GNA
