Entrepreneur calls for robust investment in infrastructural development

EntrepreneurMrs Kate Papafio-Quartey, an Entrepreneur, has called for robust investment in the country’s infrastructural sector for sustainable development.

She said public-private investment in the power sector, railways and ports, would create job opportunities and enhance socio-economic development.

In an interview with the Ghana News Agency in Accra, Mrs Papafio-Quartey who is a member of the Ghana Infrastructure Investment Fund (GIIF), said infrastructure development of the country needs collaborative efforts of public private partnership (PPP) due to huge capital investment.

The GIIF was established under the Act 877 of 2014 to lead, promote, facilitate, fund and backstop the development of and investment in infrastructure projects for national development.

The fund focuses on agriculture infrastructure, energy, water, transportation including roads, railways, air and sea ports and social infrastructure such as schools and hospitals.

She said the GIIF is now promoting the Ghana Industrial Development Initiative (GIDI) as its flagship project to stimulate the development of both infrastructure and industries in partnership with private sector investors.

“GIIF through GIDI will assist various government sector agencies to implement commercial private sector led projects in infrastructure in power, railways, ports, roads, as well as public private partnership type industrial enclaves as the key components of the project,” she added.

She explained that in order to maximise both the potential and government support for the private sector, most of the projects would be in bundles with the off-take capacity of identified ready-to-go industrial investments linked with on-going led infrastructure projects with government sector support.

As part of PPP, government and the Kuwait Fund in 2013 signed a $15.3 million loan agreement for the construction of an Emergency Trauma and Acute Care Centre at the Korle-Bu Teaching Hospital.

The Kuwait Fund for Arab Economic Development over the years has supported the country’s development mainly in the power, health and agricultural sectors.

Source: GNA

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