Parliament Approves $750m Loan Agreement to Finance Major Road Project

Parliament has approved a $750 million loan agreement to finance capital and growth-related
expenditures in the 2022 budget.

A report submitted by the Chairman of the Finance Committee, Kwaku Kwarteng on the
floor of Parliament indicated that proceeds from the loan would be applied to finance the
Ofankor-Nsawam road ($200 million), the Ejisu-Konongo road ($75million) and the
completion of the NsawamApedwa road project ($10 million).
The others are the Suame Interchange and local roads projects ($47 million), the completion
of Flowerpot Interchange, LegonAccra ($35 million), completion of the Sofo Line
Interchange ($35 million), the construction of the Kwabenya-Peduase road ($10 million), the
completion of the Eastern Corridor Lots 5 and 6 ($70 million) and the Enkyikrom-Adawso
road project ($98 million).

The facility forms part of the government’s international capital market programme (ICMP)
aimed at raising funds to finance critical infrastructure projects in sectors such as roads,
energy, railways and health, as captured in the 2022 budget.
The construction of these roads is expected to boost economic activity in the country,
improve safety on our roads and enhance the driving comfort of road users.