Government has submitted 24 priority infrastructure projects to the IMF and Official Creditor Committee (OCC) under Ghana’s restructured bilateral debt framework.
Presenting the 2025 Mid-Year Fiscal Policy Review in Parliament on Thursday, Dr Cassiel Ato Forson, Minister for Finance, said the initiative seeks to resume critical development efforts suspended since Ghana’s external debt default on December 19, 2022.
The suspension affected 55 bilateral projects valued at approximately US$3 billion in undisbursed loans.
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“The IMF and OCC have placed an annual disbursement ceiling of US$250 million on bilateral loans. This means it would take at least 12 years to fully access the outstanding loan amounts unless disbursements are streamlined to priority projects,” he explained.
To address this, the government engaged development partners and submitted a prioritised list of 24 projects selected based on proximity to completion—specifically those that were at least 70 per cent complete at the time of the freeze.
Notable infrastructure projects include the Volivo bridge over the Volta River, Tema–Aflao Road Phase 1, Ashaiman–Atimpoku corridor, 14 pedestrian bridges, Kumasi roads and drainage extension, Paa Grant Interchange, and Sekondi-Takoradi township roads.
Additional projects include Dome–Kitase Road rehabilitation, Obetsebi Lamptey Interchange Phase 2, Bolgatanga–Bawku–Pulimakom Road, Takoradi PTC Roundabout Interchange, Wenchi drinking water facilities, and Sekondi–Takoradi water supply system.
Key health facilities earmarked include the upgrade of Komfo-Anokye Teaching Hospital, construction of Central Medical Stores in Tema, Effia Nkwanta Regional Hospital, and Bolgatanga Regional Hospital.
Educational projects comprise the University of Environment and Sustainable Development at Bunso, nine technical and vocational centres, integrated e-learning labs in Senior High Schools, and expansion works at existing institutions.
Other priorities include renewable energy programmes, pilot photovoltaic systems, energy efficiency projects, and market redevelopment works in Takoradi and Kumasi Central Market Phase 2.
“There is no room for an increase in the scope of work for any of the agreed projects. Implementing agencies must take note and comply accordingly,” Dr Forson cautioned.
He revealed that some contractors had drawn down loan funds without matching project delivery, while others proposed cost variations beyond parliamentary approval. The Finance Ministry has since commissioned a forensic audit into these discrepancies.
Dr. Forson reaffirmed the government’s aim to complete and commission all 24 projects by 2028 in line with fiscal targets under the IMF-supported programme and debt restructuring plan.
The theme for the 2025 Mid-Year Fiscal Policy Review is “Resetting the economy for the Ghana we want.”
GNA
