The government is to begin the construction of a 200,000 housing units across the country to ease the housing deficit in the country.
The project which is estimated at $10 billion will be funded by the government of South Korea.
The agreement for the Housing project was signed during a visit to the Asian country by the vice president John Mahama and Works and Housing Minister, Alban Bagbin.
Abu Jinapor, spokesperson to the vice president in an interview with Joy News said 40 per cent of the housing units will be allocated to the security agencies.
The project he said marks the beginning of renewed relationship between the two countries. According to him, Exim bank of South Korea, having withheld their financial assistance due to Ghana’s adoption of the Highly Indebted Poor Country (HIPC) Initiative has promised to invest in the country’s economy.
“Exim bank of Korea for almost 12 years now has not extended any financial facility to Ghana because when we joined HIPC there were some bottlenecks. As a result of the vice president’s visit and deliberations with them, what happens is that Exim Bank will soon commence financial support to Ghana.
He said the Korean Construction Association has also been invited to invest in the country’s infrastructure.
Under the agreement the Korean government will also provide six boats to the Navy to facilitate patrols on the country’s territorial waters.
Source: Myjoyonline.com/Ghana
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Today’s front pages: Thursday, July 17, 2025
19 minutes -
WAFCON 2024: Black Queens receive $2000 from Sports Ministry for reaching last eight
21 minutes -
GES reinstates PTAs in pre-tertiary schools following presidential directive
46 minutes -
GBA Executive Board’s mandate extended by 30 days – NSA
46 minutes -
Dr. Kingsley Agyemang’s quiz champions power OPASS into the NSMQ 2025 Eastern Regional stage
49 minutes -
Ghana Scholarships Authority Bill will end nepotism and corruption – Edem Agbana
52 minutes -
Sawer Nanor & Sons Company Ltd. signs up for JoySports Invitational Tournament
52 minutes -
Axis Pension vows to dominate JoySports Invitational Tournament 2025
52 minutes -
‘There has been contact’ – NSA boss confirms talks with Vybz Kartel over Accra Sports Stadium concert
1 hour -
GRA shines at 45th Commonwealth Tax Administrators Conference in Papua New Guinea
1 hour -
NPP race: David Asante declares support for Bryan Acheampong
1 hour -
The Luckiest *712# to participate in JoySports Invitational Tournament 2025
2 hours -
National Boardroom Summit launched to strengthen governance and drive institutional growth
2 hours -
CBG nurturing future leaders with a flagship literacy initiative
3 hours -
Global Media Alliance, Japan Motors mark 15 years of Corporate Run & Walk
3 hours