President John Dramani Mahama has disclosed that $2 billion has been secured to finance the construction of the Accra-Kumasi Expressway, with government insisting that the project will not depend on borrowing.
The funds, according to the President, have been sourced from taxpayers and placed in a dedicated account at the Bank of Ghana to ensure that payments to the contractor can be made promptly once construction begins.
Mahama said the arrangement is intended to prevent delays in the execution of the project by ensuring that certificates submitted by the contractor are settled on time.
The disclosure comes as government advances preparations for the 198.7-kilometre, six-lane expressway under the Big Push infrastructure programme.
“And let me also announce that this is our own money. We have not gone to borrow money from anywhere. This money is the taxpayers’ money,” he stated.
The Ghana Armed Forces has already completed the clearance of 175.6 kilometres of the right-of-way, finishing the assignment in 19 weeks instead of the 20-week target.
The new expressway is expected to improve the movement of people and goods between Greater Accra, the Eastern Region and the Ashanti Region, while significantly reducing travel time along the corridor.
Government has also projected that the dedicated fund will reach $4 billion by the end of 2026 to fully finance the project.
Finance Minister Dr. Cassiel Ato Forson has been emphatic that government will not borrow to execute the project.
“For the avoidance of doubt, not a single pesewa will be borrowed for this project.”
Source: Starrfm.com.gh
