The Government of Ghana has signed a loan agreement with the Kuwait Fund for Arab Economic Development to finance its Dome-Berekusu- Kitase Road project.
The 19.1km road will connect the Accra-Kumasi road N6 to Accra-Aburi-Koforidua road N4.
The project has received approval from both the Cabinet and Parliament.
Though associated with the Ashesi University, the road, located in the Akuapim Traditional Area, caters to significant financial interests because it links the town to Accra.
The state of the road has been the subject of complaints from residents who regularly ply it.
Dome-Kitase road will serve as an alternative route and help reduce traffic congestion on the two national highways. It includes the 1km Ashesi University internal roads.
The KD7m (nearly $23.8m) loan will cover around 64% of the project’s total cost. The Ghana Government will be responsible for the rest.
Under the agreement, the loan will be taken for an interest rate of 1.5%, including 0.5% administration charges.
It will be repaid in 28 years and includes a four year grace period and two equal principal payments a year.
Member of Parliament for the Akuapem South Constituency, O.B Amoah in recent engagements with the residents of Berekusu announced that the government has opened the bid for contractors.
The MP speaking at the launching of the Berekusu Chief Educational Project said plans are “on the drawing board” to give the troubled road a facelift.
He said “The Kuwaitis have come here. They have inspected the road. Designs have been done and we are raising money to be able to do it.”
The Founder of Odeefour Oteng Korankye II Educational Fund and the chief of Berekuso, Odeefour Oteng Korankye II, speaking at the ceremony appealed to the residents to help develop the country by supporting his initiative by raising funds to build a bungalow for the Vocational Training school in the local community.
Odeefour Oteng Korankye explained that with collective responsibilities, needy and brilliant school-going children in Berekuso and surrounding communities will get access to quality education.
Odeefour Korankye II said with interventions to support school-going children in the community, they (children) would be able to be useful and responsible citizens to support national development.
– BY Daniel Bampo