African Development Bank Group’s current investment portfolio in Ghana hits $1.08b
The African Development Bank Group (AfDB) is currently running 30 projects in Ghana at a total cost of $1.08 billion.
Some of the projects cover transportation, water and sanitation, trade and finance among others.
These investments come in the form of loans or grants to the Ghana government under the Group’s three operating constituents i.e. the African Development Bank (AfDB), African Development Fund (ADF) and the Nigeria Trust Fund (NTF) as well as special funds set up by the Group.
“Bank Group current portfolio in Ghana consists of thirty (30) ongoing projects for a total approved amount of $1.084million (UA 682.2 million),” said the African Bank Group.
In a statement copied to ghanabusinessnews.com the Group announced a $111.3 million grant, loan facility for Ghana on July 17, 2011 to improve private sector enabling business environment and public financial management.
Among the 30 ongoing projects is the Fufulso–Sawla Road construction at the cost of $170.3 million.
According to the 2010 annual report of the AfDB Group, it is providing $168.9 million loan to finance the project with the Ghana government co-financing with an amount of $1.32 million. Making the project the biggest that the Group has approved in West Africa.
Another project is the $3.79 million reoptimization and reoperation study of the Akosombo and Kpong Dams project which the Bank says it is financing with a $2.44 million grant, $1.2 million from government and the remaining from other sources.
Other projects are design for recycling of waste project, the forest investment programme, trans-boundary initiatives for water supply and sanitation.
The AfDB Group’s investment into Ghana since 1967 to 2010 is $2.3 billion. As at December 31, 2010, AfDB says it approved 34 loans of a total cost of $169 million for Ghana, the largest in West Africa followed by Senegal ($109 million), Nigeria ($104 million), Mali ($102 million) and Niger ($83.4 million).
In 2006, 2007, 2008 and 2009, the Group has invested $101 million, $117 million, $266 million and $180 million respectively into Ghana’s economy.
By Ekow Quandzie