- March 13, 2021
- Posted by: Ato
- Category: Economics
The Minister for Parliamentary Affairs and caretaker Minister for Finance, Osei Kyei-Mensah-Bonsu has assured Ghanaians that the roads under the government’s Sinohydro agreement will be completed in 2021.
According to him, most of the roads under phase one are at various stages of completion.
Presenting the 2021 budget statement and economic policy on the floor of Parliament on Friday, March 12, 2021, he said President Akufo-Addo is determined to fixing the nation’s bad roads.
“Mr. Speaker, His Excellency the President Nana Addo Dankwa Akufo-Addo in the presentation of the State of the Nation’s address declared 2021 as the second year of roads.”
“Mr. Speaker, with this declaration we will continue the prioritization of road construction. The government will continue to pursue the following ongoing projects that are at various stages of completion under the Sinohydro master facility.”
He thus assured the nation of a good road network in the year.
President Akufo-Addo had already declared 2021 the second year of roads.
About the Sinohydro agreement
President Nana Akufo-Addo inaugurated a US$1.5 billion road infrastructure project under the Sinohydro Master Project Agreement by cutting sod for the construction of the Tamale Interchange project in April 2019.
The Master Project Support was agreed between Ghana and the Sinohydro Corporation Limited in 2018 to address major infrastructure challenges in the country and fund other infrastructure like roads, bridges, interchanges, hospitals, housing, railway development as well as rural electrification.
Months after the launch, much is yet to be seen under the overall US$2 billion deal.
Per the agreement, the Sinohydro Corporation of China will provide the infrastructure of the government’s choice in exchange for Ghana’s refined bauxite.
Though critics called for the agreement to be reviewed warning it would add to Ghana’s debt stock, the government insisted it is a barter arrangement that will not shackle the country to more debt.