The construction of new terminal at Kotoka International Airport in Ghana has received a major boost after the African Development Bank (AfDB) announced that it had approved a $120 million corporate loan to finance Ghana Airports Company Limited’s (GACL) capital investment programme.
The loan is expected to help in the construction of a new terminal at Kotoka International Airport (KIA) in Ghana capital Accra, and the rehabilitation of other airports managed by GACL including the Kumasi, Tamale, Ho and Wa Airports.
AfDB said in a statement that the total loan for the project is $ 400 million which will be financed with corporate loans from AfDB and other development financial institutions as well as commercial banks.
The construction of new terminal at Kotoka International Airport in Ghana is expected to create an estimated 1600 jobs comprising of temporary and permanent ones.
The Ghana Shared Growth and Development Agenda seeks to rehabilitate and expand infrastructural facilities especially in the transport sector.
At the sector level, the programme falls in line with the priorities identified in the National Airport System Plan 2014.
Founded in 1964, the African Development Bank has continued to play a major financial role in Africa. It has supported completed and ongoing infrastructure development across the continent..