Japan restores YEN loan portfolio to Ghana

The Government of Japan has announced the restoration of its YEN loan portfolio to Ghana, with the approval of a proposal for the construction of a new bridge across the Volta River as part of the Eastern Corridor Road Development Project.

The announcement followed discussions between President John Dramani Mahama and the Japanese Prime Minister, Shinzo Abe, in Tokyo on Wednesday May 18, 2016.

Commenting on the announcement at a joint press briefing after their meeting, President Mahama said: “This bridge is part of our Eastern Corridor road network and will be critical in improving transportation between the northern part of Ghana and the south.”

President Mahama also thanked the government and people of Japan for the resumption of the YEN loan, noting further that the construction of the bridge and the signing of a contract for the development of the Sekondi Fishing Harbour Phase 2 Project will contribute greatly to the expansion of the country’s infrastructure to boost further growth.

President Mahama, who is in Tokyo on an official visit, earlier paid a courtesy call on Emperor Akihito and Empress Michiko in the company of First Lady Lordina Mahama.

One of Ghana's major development partners, Japan has over the years made significant contributions to Ghana's health, agricultural, infrastructural, and social service sectors.

Accompanying the president on the visit to Japan are the Minister of Foreign Affairs and Regional Integration, Hanna S. Tetteh, Minister of Roads and Highways Alhaji Inusah Fuseini, Deputy Minister of Finance Mona Quartey, and Deputy Minister of Local Government & Rural Development Emmanuel Agyekum.