Parliament Approves $25m Loan To Improve Transport Sector

Parliament has approved a $25m loan to further augment the funding for the transport sector project.  

The project began in 2009 and is expected to be completed this year. 

It is geared at increasing Ghana's competitiveness in foreign trade by reducing international transport cost and improve local trade markets. 

The Chairman of the Finance Committee of Parliament, James Avedi said the initial $225m facility from the World Bank is not adequate for the intended activities under the project, thus the request for the additional $25m. 

The funding will support the rehabilitation of the Ayamfuri Asawinso road and the construction of selected roads in the Accra East Corridor. 

The designs for the rehabilitation of the Giffard and Burma Camp roads saw changes during the project thus occasioning an increase in the cost of the project by $17m. 

The $25m agreement is between government and the International Development Association.

GBC