Parliament has approved two separate loans to the tune of over 81 Million Euros to finance the Sekondi-Takoradi Water Supply Rehabilitation and Expansion Project.
The loans are: Oeke-Backed agreement amounting to €70,733,432.00 and commercial loan amounting to €10,500,000.00 between Ghana represented by the Ministry of Finance and Commerzbank Aktingesellschaft.
The credit facility is to secure funding for the implementation of the project including the construction of an intake, a new water treatment plant with its ancillary structure, transmission and distribution pipelines, service reservoirs, standpipes and house connection.
The beneficiary communities include: Takoradi, Effiakuma, KwesimintsimKojokrom, West Tanokrom, Anaji, Sekondi, New Takoradi, Essikado, Apremdo, Keikum, Ntankoful, Ngyyiresia, East Tanokrom, Effia Village and Fijai.
The rest are: Assakai, Aduembra, Kansaworado, Nkroful, Anoadze, Abuesi, Apowa, Inchaban, Ketan, Dixcove, Estates, Shama, Hwendo, Hotopo and surrounding villages.
The project when completed is expected to increase agriculture production and to also “assist in boosting the commercial potential of the city while presenting a respectable front to visitors arriving from neighboring countries” as captured in a Finance committee report presented to plenary for debate before its adoption.
The project is expected to be completed in 40 months after commencement of works with a defect liability period of 12 months from substantial completion of works.