Roads Minister Kwame Agbodza explores partnerships with local banks to fund road projects

The Minister of Roads and Highways, Mr. Kwame Agbodza, is in talks with local banks. He aims to find innovative financing models for important road projects.

He met with the Agricultural Development Bank (ADB), National Investment Bank (NIB), and Ecobank Ghana Limited. They discussed the government's debt to road contractors. Many contractors have loans with these banks.

Other topics included reintroducing road tolls and negotiating interest on delayed payments. They also talked about financing major projects under the government’s “Big Push” initiative. Improving communication between the Ministry and banks was another focus.

Mr. Agbodza assured banks that the government will pay contractors' debts. He said, “We will pay.” He noted that state-owned banks suffer when payments are late.

He urged banks to change their lending policies and interest rates. He encouraged them to adopt new approaches for better support of contractors.

Mr. Agbodza also asked ADB to help stalled Cocoa Roads Projects. These projects are vital for cocoa-growing areas and boosting agricultural exports. He emphasized prioritizing cocoa roads over urban projects.

The banks showed willingness to support the road sector through funding arrangements. They also expressed interest in investing in technologies for efficient toll collection.

These discussions highlight the government's commitment to Public-Private Partnerships (PPP). The goal is to accelerate road infrastructure development across the country.