Parliament on Tuesday (October 20), approved two separate loans of over 81 Million Euro to finance the Secondi-Takoradi Water Supply Rehabilitation and Expansion Project.
The loans are: Oeke-Backed agreement amounting to €70,733,432 and commercial loan amounting to €10,500,000 between Ghana represented by Ministry of Finance and Commerzbank Aktingesellschaft.
The credit facility is to secure funding for the implementation of the project, which includes; 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, Kwesimintsim-Kojokrom, 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.
When completed, the project is expected to increase agriculture production, and boost the commercial potential of the twin-city, as well a more respectable front to visitors arriving from neighboring countries.
A report of the Finance Committee of Parliament on the loan agreement said: “The adequate supply of potable water would lead to a reduction in the prevalence of water-borne diseases, enhance opportunities for agro processing and businesses and generally improve the social well-being of the people in the project area.
“It would also aid and improve on the services of health facilities;” improve economic activities, create jobs in the catchment area and contribute to the achievement of the policy of the Government of Ghana of ensuring access to safe potable water by the year 2030 in line with the UN’s Sustainable Development Goal 6.
The project is expected to be completed in 40 months after commencement of works. And, there will be a Defect Liability Period of 12 months from substantial completion of works.