US$750 Million Afrexim Loan Facility Finally Arrives
The much-awaited USD $750 million Afrexim loan facility has finally hit the account of Ghana, it has been reported.
The facility, the government has indicated, will ease the country of the current economic pressures.
The Bank of Ghana intends to tackle the depreciation of the cedi with the facility as well as shore up the foreign exchange reserve of the country.
The Central bank will give the cedi equivalent of the facility to the government while it keeps the dollars for its operations.
The $750 million dollars Loan Facility is an agreement between the government of Ghana and the African Export-Import Bank (AfreximBank)
It was approved by the Parliament of Ghana on July 20, 2022.
The government will use the facility to finance eleven projects including the Ofankor-Nsawam road; Ejisu-Konongo road, completion of the Nsawan Apedwa road project; Suame Interchange and Local Road Network Project; completion of Flower Pot Interchange at Legon; Completion of Sofoline Interchange, Construction of Kwabenya-Peduase Road Project, the completion of Eastern Corridor Lots 5 and 6; completion of Enkyikrom-Adawso road project; Purchase of rolling stock and spare parts, and the construction of Stadia for All Africa Games.
Source: opemsuo.com/Hajara Fuseini
