Finance Minister Signs AfDB Grant for Infrastructure Studies
By Praisebell Rosemond Larbi
The Minister for Finance, Dr. Cassiel Ato Forson, has signed a US$12.83 million grant agreement with the African Development Bank (AfDB) to finance feasibility studies and design development for major infrastructure projects under the government’s flagship Big Push programme.
The agreement was signed in Accra with the outgoing Country Manager of the AfDB in Ghana, Ms. Eyerusalem Fasika, marking another milestone in the long-standing development partnership between Ghana and the continental development finance institution.
The grant is expected to play a critical role in preparing key infrastructure projects for implementation by funding detailed feasibility studies, full engineering designs, cost estimates, as well as environmental and social impact assessments. These preparatory works are considered essential to ensuring that projects under the Big Push programme are technically sound, bankable and ready for construction.
A major component of the grant will support feasibility studies and full design development for a proposed interchange at the 37 Military Hospital in Accra. The project is aimed at easing persistent traffic congestion along one of the capital’s busiest corridors, improving mobility, reducing travel time and enhancing overall urban transport efficiency.
In addition, the grant will finance feasibility studies and detailed designs for the redevelopment of four modern markets located at Agbogbloshie in Accra, Techiman in the Bono East Region, Sekondi in the Western Region, and Mankessim in the Central Region. The market redevelopment projects are expected to improve trading conditions, enhance sanitation and safety standards, and support local economic activity, particularly for women and informal sector operators.
The agreement also covers comprehensive feasibility studies for the development of Special Agro-Industrial Processing Zones (SAPZs) in the Afram Plains, Nsawam and Builsa. These zones form a key pillar of the government’s industrialisation agenda and are intended to add value to agricultural produce, reduce post-harvest losses, create jobs and strengthen agro-based value chains across the country.
Speaking at the signing ceremony, Dr. Forson expressed appreciation to the African Development Bank “on behalf of President John Dramani Mahama and the people of Ghana for the Bank’s continued partnership and support for Ghana’s development priorities.”
He commended Ms. Fasika for her meticulous, professional and results-driven leadership during her tenure as Country Manager, noting that Ghana had secured significant financial resources and technical assistance from the AfDB under her stewardship.
“Through her leadership, Ghana has benefited from substantial AfDB support, both in terms of financing and technical expertise, which has contributed to advancing our infrastructure and development agenda,” the Finance Minister said.
Dr. Forson expressed optimism that the feasibility studies would be completed in a timely manner, allowing construction works on the priority projects to commence as planned, potentially by the third quarter of the year.
In her remarks, Ms. Fasika thanked the Government of Ghana for the strong cooperation and support extended to the African Development Bank throughout her tenure. She noted that the close collaboration between the Bank and Ghana had been instrumental in achieving the milestones being celebrated.
“Together, we have given it our best shot,” she said, reaffirming the AfDB’s commitment to supporting Ghana’s development agenda and infrastructure transformation efforts, even as she prepares to exit her role as Country Manager.
The signing of the grant agreement underscores the government’s renewed focus on infrastructure-led growth as a catalyst for economic recovery, job creation and long-term development.
