The World Bank and the Ghanaian government on Wednesday signed an agreement worth US $220 million for the country's road sector development, an official from the World Bank office in the capital Accra said. The money will be used for the rehabilitation and maintenance of roads and for capacity building in the road sector, the official told IRIN. Both urban and rural roads are covered in the plan, however, the government will decide which one to prioritise, the official added.
The agreement was signed by the World Bank's country director, Peter Harrold, and Ghana's Finance Minister Yaw Osafo-Maafo. The repayment period is 40 years with an interest of less than one percent. There is also a 10-year grace period, the official said. Harrold also signed another credit agreement of US $5.13 million to support rural financial services with the
governor of the Bank of Ghana, Paul Acquah.
This article was produced by IRIN News while it was part of the United Nations Office for the Coordination of Humanitarian Affairs. Please send queries on copyright or liability to the UN. For more information: https://shop.un.org/rights-permissions
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