China Eximbank provides $10.4 billion concessional credit for transportation, sanitation and education projects (Linked to #2032)

In September 2010, China Eximbank and the Government of Ghana signed a $10.4 billion concessional credit package loan for transportation, sanitation, and education project. The Government of Ghana agreed to use $2.85 billion of loan proceeds for roads and $6 billion of the loan proceeds infrastructure. The loan was reportedly to be paid back over 20 years with the proceeds from oil exports. In November 2010, the Government of Ghana set aside $6 billion of the loan proceeds for the construction a railroad along the northern border with Burkina Faso. The project involved the extension Ghana's rail network from the central city of Kumasi through Tamale to the town of Paga on the Burkina Faso border. The project was expected to be implemented in April 2011 and China National Machinery Import and Export Corporation was identified as the contractor responsible for implementation. However, this loan and project were reportedly suspended in 2015 due to concerns about debt sustainability.

Number of official sources

6

Number of unofficial sources

16