Government has signed a loan agreement with the African Development Bank to provide 83 million dollars for the construction of the Pokuase Interchange.
The government of Ghana is expected to provide 11 million dollars.
Speaking in Accra after signing the agreement, the Minister of Finance Seth Terkper the 94 million dollar project includes other amenities such as schools, hospitals, and library hence the amount involved.
He also mentioned that this is the first time the African Development Bank is signing such a contract in Africa.
“This is the first for the African Development Bank to be experimented in Ghana and they say they are going to take the model elsewhere. Often we quote just the amount and we think it’s just the road.”
The project which will last for 36 months is expected to start from the first quarter of 2017.
In a related development Terkper also signed a separate loan agreement with the German government to provide 40.82 million Euros to finance renewable energy projects and strengthen financial management capacities of the Ghana Revenue Authority and the Ghana Audit service.