Parliament Approves Dredging Loan for Takoradi Port

Parliament of Ghana approved a €160 million credit facility earlier this week to finance additional civil and dredging works at the Takoradi Port.

The credit facility was secured by the Ghana Ports and Harbors Authority (GPHA) from a consortium of international banks with the Government of Ghana acting as the guarantor for the GPHA.

Among the banks that granted the credit facility are KBC Bank NV, Belfius Bank SA/NV, Deutsche Bank AG (London Branch) and BNP Paribas Fortis NV/SA (as mandated lead arrangers and original lenders), Kasapa FM Online reports.

The Takoradi Port is currently undergoing major infrastructure development to be at par with international standards as well as to meet needs of maritime trade activities including the oil and gas sector.

This development project, when completed, will provide adequate berthing, mooring, wharf, warehousing and large open space facilities at the waterfront.

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