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06.12.2004 Business & Finance

AfDB gives Ghana 135.8 billion cedis

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Accra, Dec. 6, GNA - The African Development Bank (AfDB) Group, has released an amount of 15 million US dollars (135.85 billion cedis) as the second tranche of its poverty reduction support to Ghana, a statement from the Ministry of Finance said on Monday.

The statement said the AfDB released the first tranche of 34.6 million US dollars (313.23 billion cedis) to Ghana in November 2003. It said the government had strongly demonstrated effective economic governance in the use of all resources mobilized under the Multi Donor Budgetary Support (MDBS) to finance the budget and that had in turn lent credence to the release of the second tranche by the AfDB.

The statement said the contribution of the bank to the Multi Donor Budgetary Support (MDBS) mechanism for the year 2004 was significant and underscored the fact that the bank had embraced the MDBS as an efficient channel for offering donor assistance to Ghana.

It listed at least 10 key projects to be funded by the AfDB, including the Tetteh Quarshie Interchange, rehabilitation of the Achimota-Anyinam and Tema-Aflao roads, Senior Secondary School development, Health Services rehabilitation III, Kpong Irrigation Project and Institutional Support to Governance, among other things.

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