(Ecofin Agency) - President Nana Addo Dankwa Akufo-Addo, the Ghanaian president, commissioned on July 9, Ghana’s four-tier interchange. The infrastructure, a first of its kind in West Africa and second in Africa, opened in Accra with the hopes to reduce road fatalities, ease mobility, and boost trade within Ghana as well as extend to other regional countries.
The interchange was jointly funded by the African Development Bank Group ($83.9 million loan), via its African Development Fund, and the Ghanaian government ($11 million).
“This approach amplifies the benefits through the ancillary facilities and the road which contribute to the improvement of livelihoods. The Bank has stood side-by-side with Ghana to set up the country in implementing its growth and transformation agenda,” said Marie-Laure Akin-Olugbade, AFDB Director General for the West Africa Regional Development.
This project is part of the Accra Urban Transport Project (AUTP) approved by the AFDB in 2016 to promote efficient and safe movement of goods and people in and out of Ghana, and to boost trade along the connecting routes, therein improving Ghanaian’s livelihoods. This puts the country in a positive tract in reaching its vision 2049 - Ghana’s Infrastructure Plan aims to build world-class, resilient, infrastructure assets to support the country’s continued growth and improve the quality of life of all Ghanaians.
Also, the four-tier interchange will positively contribute to the flow of trade since the project is beneficial to local factories and agro-industries, transporters and travellers on the Accra-Kumasi Road corridor, and is also part of the Ghana-Burkina Faso Road corridor.
In this light, Ghana’s GDP that contracted to 1% in 2020 as a result of disruption caused by the coronavirus pandemic will see improvement during the post covid recovery period. According to the International Monetary Fund, Ghana’s future growth is positive, however the 2021 growth rate is projected at 5.0% due to lower oil prices and a reduction in trade, investment, and tourism activities.