Ghana to fund new highway stretch with loan from Standard Chartered

Ghana's finance ministry has signed a loan agreement worth €280m with Standard Chartered to fund a new section of highway, the British bank said on Monday, 28 June.
Source: Frank Gaertner ©
Source: Frank Gaertner © 123RF.com

The loan will fund a 64km section of Ghana's Eastern Corridor that will include two flyovers and interchanges, 11 pedestrian bridges and three mixed-use bridges, the bank said in a statement.

"Having operated in Ghana for over 125 years, we are able to advise and play a leading role in tapping liquidity around the world for major sustainable infrastructure projects in the country,” said Xorse Godzi, Standard Chartered's country head in Ghana.

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Ghana's finance ministry said in March the government would borrow up to $5bn from capital markets this year to finance its 2021 budget and manage its debt.


SOURCE

Reuters
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