Finance Minister, Dr Mohammed Amin Adam, has announced that Exim Korea, the financiers of the construction of the University of Environment and Sustainable Development, Bunso Campus, has resumed disbursement to expedite its construction.
The Minister stated that his ministry is also collaborating with the United Kingdom Export Finance for the disbursement of all Interim Payment Certificates (IPCs) issued before November 2023.
This will provide 6.6 million euros to the contractors to remobilise and restart work on the stalled new Eastern Regional Hospital project.
During a courtesy call on the Overlord of Akyem Abuakwa State, Osagyefo Amoatia Ofori Panin, at his palace in Kyebi on Thursday, Dr Amin Adam revealed that President Nana Akufo Addo was committed to completing all stalled key projects in the region.
Dr Adam also disclosed that feasibility studies for the construction of a new Municipal Hospital for the residents of Kyebi have been conducted.
A contractor has been selected, and the ministry is currently discussing a financing module for the project.
“The key projects that this government is doing include the University for Environment and Sustainable Development. As a result of debt suspension following our decision to join the IMF for support, this project was suspended for some time but I am happy to announce before you Nana that the Financier of this project, Exim Korea has resumed disbursement and we hope to see this project make quick progress so that we can create that environment for our children to study environmental sciences and sustainable development. The Koforidua Hospital is another project that was affected by the debt suspension. We are not happy about that development. And so the president has directed me to do whatever I can to reactivate the project. So we are working with the United Kingdom Export Finance to disburse all IPCs that were issued before November 2023. And so by the end of this quarter, up to about €6.6 million will be disbursed to the contractor and we hope that the contractor will remobilise and go back to site.”
“We will still have about €42 million to be disbursed, and we are working so hard to complete negotiations with our official creditors in order to determine when to disburse that amount of money for the project to be completed. Let me also mention that his excellency’s commitment to do a new municipal hospital here is not forgotten. I know that feasibility studies have been conducted. I know that the contractor has been selected and we are currently discussing the financial body that we will apply to this project. I want to assure you that his excellency the President has committed and is resolved to completing the projects,” he stated.
Osagyefo Amoatia Ofori Panin, while expressing confidence in Dr Amin Adam’s ability to deliver on his new mandate, urged the staff of the Finance Ministry to support the minister diligently.
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