Ato Forson (L) pictured with UK’s Trade Commissioner to Africa (R)
Ghana has signed a bilateral debt restructuring agreement with the UK with the hope to unlock funding to finance “The Big Push”, and other government programmes.
The deal was signed by the Minister of Finance, Dr Cassiel Ato Forson and the UK Export Finance, and the UK’s Trade Commissioner to Africa, John Humphrey in Accra as part of an official visit to Ghana.
According to Ato Forson, the agreement sends a strong signal to other members of the committee to also quickly sign the official agreement.
The agreement will see the resumption of five key projects identified as priorities by government with infrastructure investment of about 2.8 billion cedis for Ghana.
Government, BADEA sign MoU to boost 24-Hour Economy and export development
The debt agreement is expected to reduce financing pressures on the government to focus on some initiatives in the 2025 National Budget and economic programmes.
Dr Ato Forson added that the development will restore the country to debt sustainability.
“Today we’re going to sign the third of the many bilateral agreements as we signed the first one with France and the second with the Exim Bank of China. We taking steps to restructure debt in excess of 256 million dollars and this will unlock five major projects namely; the Bolgatanga Road, Obetsebi Lamptey Interchange phase 2, Kejetia Market phase 2, Tema Aflao road project and the Komfo Anokye Teaching Hospital Maternity project in Kumasi. We believe that after the signing, the projects will begin, ” he noted.
SP
Watch the latest edition of BizTech below: