The African Development Bank Group (AfDB) has revealed that its total approvals for Ghana to date, stands at roughly $3 billion of which nearly $825 million (28%) has gone into road, air, and rail transportation projects.
Some of these projects include the rehabilitation of Fufulso-Sawla Road, which won a presidential award in the Bank, and the new Kotoka International Airport Terminal 3. According to the AfDB, it has also invested in other important sectors such as agriculture, power, water and sanitation, and finance.
Bank Group-financed Pokuase Interchange
Meanwhile, the Bank Group is the major financier of the newly commissioned Pokuase Interchange. According to the AfDB, it provided $83.9 million for the project from the African Development Fund, its concessional financing window, whilst the Ghanaian government contributed $11 million.
Ghana’s President Nana Akufo-Addo commissioned the Pokuase Interchange, an array of swirling highways, at a ceremony held on Friday, July 9, 2021. Hopes are high that the new infrastructure will help reduce road fatalities, ease mobility and spur trade within Ghana as well as with its neighboring countries.
At the ceremony, President Akufo-Addo lauded the African Development Bank for its developmental role across the continent.
“The Bank, under the outstanding leadership of a great Pan-Africanist, Akinwumi Adesina, continues to be a strong vehicle for the realization of the aspirations of the African peoples”.
Marie-Laure Akin-Olugbade, the Bank’s Director General for the West Africa Regional Development and Business Delivery Office, said that Bank support for the Ghanaian transport infrastructure sector symbolizes its quest for Africans’ economic and social advancement.
“This approach amplifies the benefits through the ancillary facilities and the road which contribute to the improvement of livelihoods”.
Also, she noted that for close to five decades, “the Bank has stood side-by-side with Ghana to set up the country in implementing its growth and transformation agenda”.
The Accra Urban Transport Project
Meanwhile, the four-tier interchange, the first of its type in West Africa, and a 10-km road network linking it to adjoining arterial roads, forms part of the Accra Urban Transport Project.
The project, which was approved in September 2016, will improve mobility on the Accra-Nsawam section of the Accra-Kumasi Highway, which sees 50,000 vehicles per day in traffic. According to the AfDB, it will also reduce vehicle operating costs by 37%, cut travel time from two hours to 30 minutes and lower road accident rates by 40%.
Additionally, the project provides protection for the nearby Gua Sacred Forest, contributes to lower carbon dioxide emissions. The AfDB further stated that the project provides fully equipped modern ICT laboratories for 14 basic schools to train over 10,000 primary school children.
Furthermore, the production facilities for two local women’s groups have been upgraded and access to ICT has improved the business and income of more than 250 women by 10%.
Project beneficiaries include local agro-industries, transporters and travelers on the Accra-Kumasi corridor, which is the main transit route between Accra and the breadbasket regions of Bono and Ahafo. It also forms part of the Ghana-Burkina Faso road corridor.
Country Strategy Paper for Ghana
The project advances the Bank’s High 5 strategic priorities, particularly, Industrialize Africa, Integrate Africa and Improve the quality of life for the people of Africa. The project also aligns with the current Country Strategy Paper (2019-2023) for Ghana, which supports industrialization, trade, and regional integration as national development priorities.
The strategy paper also positions Ghana to take advantage of the African Continental Free Trade Area, which came into force in January 2021.
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