KfW IPEX, HSBC provide financing for Ghana road project
Germany‘s KfW IPEX-Bank has agreed a €72 million ($78.3 million) loan for the construction of the Bolgatanga-Bawku-Polimakom highway in Ghana.
The debt package also features HSBC, which is lending €68 million to the project. The 102.55km road starts from Bolgatanga municipality in the far north of the country, close to the border with Burkino Faso. It initially runs as a dual carriageway for 2km, and then continues as a single carriageway through Zebilla and Bawku, ending at Polimakom.
Ghana’s parliamentary finance committee noted in its project report that initial construction work had begun in 2016 with financing originally to come from its road fund. However, it was eventually unable to release the necessary funds and the project subsequently stalled. The report also said the revised project was expected to be completed within 17 months from the date of commencement.
