The Minister of Roads and Highways, Mr. Kwame Agbodza, recently convened with representatives from local banks including Agricultural Development Bank (ADB), National Investment Bank (NIB), and Ecobank Ghana Limited. Apexnewsgh reports
This meeting was primarily focused on exploring innovative financing models for crucial road projects that are vital for the country’s development.
One of the pressing topics discussed was the government’s longstanding debt to road contractors. Minister Agbodza reassured the banking representatives of the government’s commitment to resolving these debts, emphasizing that stable state-owned banks are essential for the health of the nation’s financial ecosystem. He recognized the need for a collaborative approach to maintain the financial viability of contractors who are facing pressures due to outstanding loans.
Another significant aspect of the discussions revolved around the potential reintroduction of road tolls. This revenue-generating initiative was considered as a practical solution to fund road development projects and improve infrastructure across the country. The government’s ambitious “Big Push” initiative was also at the forefront of the conversation, with bank representatives expressing a willingness to support this movement through syndicated funding arrangements.
Moreover, Minister Agbodza highlighted the need for improved communication between the Ministry and the banking sector. He specifically urged ADB to give priority to the improvement of cocoa roads over urban projects, underlining the importance of facilitating access to cocoa-growing regions to boost agricultural exports. “Let’s not forget that you are the Agricultural Development Bank, so perhaps you should prioritize cocoa roads over urban projects,” he emphasized.
These productive engagements signal the government’s dedication to fostering Public-Private Partnerships (PPPs) aimed at accelerating road infrastructure development and enhancing the overall road network across Ghana.
By uniting efforts with local banks, the government aspires to create a more supportive financial framework for contractors, ultimately driving sustainable progress in the nation’s road sector.
Source: Apexnewsgh.com
