Korea to give Ghana $67m loan to expand electricity supply
The Korean government says it will give Ghana a loan of $67 million in aid to expand the power grid in the country.
The Ministry of Strategy and Finance says in a statement that the “loan will be used to build a 185-kilometer power transmission line linking substations between two cities in Ghana.”
This is expected to boost Ghana’s supply of electrical power to most African countries by 2020.
According to the Korea JoongAng Daily, the loan facility is “the biggest loan that Korea has extended to an African nation through a state-run fund for assisting underdeveloped countries.”
“Also, the Korea government plans to support Ghana by constructing a smart grid direct load control system. This Korean-developed technology is a utility for controlling electricity use in an environmentally-friendly way,” say officials of the Asian country.
By Ekow Quandzie
When will Mother Ghana lend other countries?
The politicians know that Ghana cannot be arrested and therefore will continue to go for loans to disgrace this country
Excellent but don’t be like the US in debts, Ghana should continue ti invest wisely, with vision, long term development with prudent disbursement of every single dollar as well as accountability.