Ghana and ADB sign $83 milion loan agreement

Ghana and the Africa Development Bank (AfDB) on Wednesday signed a loan agreement of $ 83 million for the Accra Urban Transport Project also known as the Pokuase Interchange Project.

The project is estimated to cost $ 94 million and government will contribute a counterpart funding of $ 11 million.

The construction of the three-tier interchange will take three years to complete.

Mrs Marie-Laure Akin-Olugbade, AfDB’s Resident-Representative, signed for her organisation while Mr Seth Terkper, the Minister of Finance initialed on behalf of Ghana.

The first tier of the interchange will link Accra to Nsawam and is part of the existing Accra-Nsawam-Kumasi Highway.

The middle tier can be used to access Awoshie, Pokuase ACP, Accra and Nsawam while the third tier connects Awoshie to Pokuase ACP.

The construction is aimed at removing the expected bottleneck at the Pokuase junction by preventing streams of traffic conflicting with one another from the Awoshie-Pokuase and Accra-Kumasi roads.