The agreement is between the Government of Ghana (GoG) and Deutsche Bank S.A.E.
It is to finance the design and construction of the Phase One of the Suame Interchange and Ancillary Works Project in Kumasi.
The project is to convert the Suame roundabout into a four tier interchange to ensure the free flow of traffic within the area and help reduce travelling time.
The total amount of of the loan approved is €156.4million.
The loan agreement between the Ghana Government and the Deutche Bank S.A.E was in two folds.
One was for an amount of €135,396,518.38 and the other for €21million bringing the total to €156.4million.
It is expected to be completed within a period of 36 months from the commencement date in September 2022.
Yapei, Buipe and Daboya bridges in the northern Ghana
Ghana’s parliament also approved two loan agreements totaling €102,248,679.45 to finance the design and construction of the Yapei, Buipe and Daboya bridges in northern Ghana.
It involves an amount of €97, 721,615.91 and €4,527,063.54 respectively, totaling €102,248,679.45 for the design and construction of the three bridges.
The loan agreement is between the Ghana Government and the Standard Chartered Bank, London.
The Buipe and the Yapei bridges over the Black and White Volta respectively span a distance of 240 metres each while the Daboya bridge also over the White Volta covers a distance of 300 metres.
The overall objective of the project is to develop an efficient and integrated transport network for the safe movement of people and goods.
The specific objectives are to connect southern and northern Ghana, facilitate trade, transit and transport between Ghana and its neighbouring countries, remove traffic bottlenecks at River crossing and improve the movement of goods and people.
Background
The Suame roundabout is a five-legged intersection. It linked the P. V Obeng road, Mampong road, Offinso Road, Western By-Pass and Kejetia road. The roundabout has a central green area with a statue in honour of the late Otumfuo Opoku Ware II.
The Suame roundabout has been identified as a major bottleneck in the road transportation system in Kumasi.
