The government is working to ensure that 24 key infrastructure projects across the country are completed and inaugurated by the end of 2028, following new agreements with creditors and the International Monetary Fund (IMF).
Delivering the mid-year budget review in Parliament on Thursday, July 24, the Finance Minister, Dr Cassiel Ato Forson, said the projects, ranging from roads and hospitals to markets and schools, have been prioritised under Ghana’s bilateral debt restructuring deal and IMF programme.
“We aim to ensure that all the priority projects are completed and commissioned by the end of 2028,” Dr Forson told the House.
These 24 projects are part of 55 bilateral initiatives that stalled after Ghana’s default on its external debt in December 2022.
The suspension of creditor disbursements left US$3 billion in undrawn loan funds and numerous abandoned worksites across the country.
To resolve the impasse, the government submitted a list of near-complete projects, each over 70 per cent done, to the Official Creditor Committee (OCC) and IMF for approval.
Upon signing bilateral agreements, funding will resume for these projects, which include the new bridge across the Volta River at Volivo, the construction of the Tema-Aflao Road Project- Phase 1, the Tema Motorway Roundabout, through Ashaiman Roundabout to Atimpoku; the construction of 14 pedestrian bridges, the Kumasi roads and drainage extension, Paa Grant Interchange and Sekondi/Takoradi Township Roads- Phase 1; rehabilitation of Dome-Kitase Road; Obetsebi Lamptey Interchange- Phase 2; Bolgatanga-Bawku-Pulimakom Road; PTC Roundabout Interchange Project at Takoradi.
The other projects are the construction of drinking water facilities in Wenchi, Sekondi-Takoradi water supply, modernization of Komfo-Anokye Teaching Hospital, the construction of Central Medical Stores in Tema, Effia Nkwanta Regional Hospital in Takoradi, Bolgatanga Regional Hospital, the establishment of the University of Environment and Sustainable Development at Bunso, the establishment of 9 State of the Art Technical and Vocational Education Training centres, Integrated E-Learning Laboratories in Senior High schools, the expansion and Development of Existing Senior High Schools; Renewable Energy Programme: Pilot Photovoltaic System; Renewable Energy and Energy Efficiency Programme; Construction of the Takoradi Market; and Kumasi Central Market Phase 2.
“The main criterion for the selection of these projects was closeness to completion,” the Finance Minister noted.
“The resumption of disbursements for the projects and their implementation are fully in line with our commitments under the bilateral debt restructuring and the IMF Programme.”
Dr Forson also warned that there will be no expansion in project scope, and implementing agencies must comply strictly with agreed terms.
He indicated that a forensic audit has been commissioned following reports that some contractors withdrew funds without delivering corresponding work.
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