The Board of Directors of the African Development Fund (ADF) approved on Friday, December 8, a loan of 25 million Units of Account (UA)* - approximately $32.04 million to finance the Tetteh Quarshie - Mamfe road project in Ghana.
The objective of the project is to contribute towards the government's goal of poverty reduction and economic development. It specifically seeks to reduce the travel time, congestion, and vehicle operating cost with a view to reducing road user costs for both passengers and freight.
The project will involve the construction of the Tetteh Quarshie Interchange with an elevated motorway consisting of a two span of 19 metres long each with twin independent decks. It will also entail the rehabilitation of the 10 km long Tetteh Quarshie - Pantang road to a three-lane asphalt concrete surface dual carriage-way with service roads to serve the frontage developments. The 30 km long Pantang - Mamfe section will also be rehabilitated to a single 7 m wide carriage-way double bitumen surface treatment road with two metre single bitumen surface treatment shoulders on both sides. The project will also contribute to improvement in Management information, financial management as well as contract management systems through institutional support to the Ghana Highway Authority.
The total cost of the project amounts to UA 66.84 million-approximately $85.68 million. The ADF and the Government of Ghana will finance the rehabilitation of the Pantang to Mamfe existing 30 km road, the construction of the Tetteh Quarshie Interchange and the institutional support to Ghana Highway Authority.
The bank’s group operations in Ghana started in 1973. To date, the group has committed a total of $701.37 million on 55 operations. Of this amount, about $549.59 million has been disbursed.
