Ghana strikes road funding deal with China

A funding arrangement has been agreed between Ghana and China to pay for road construction works. The package is for a US$646.6 million deferred payment deal. It has been set up with Sinohydro to cover an engineering, procurement and construction (EPC) contract. This will be for upgrade and improvement work for roads and interchanges. The package is the first in a series worth up to $2 billion that will pay for various major infrastructure projects in Ghana. One of the projects will include building a road to a bauxite mining area, with revenue from the extraction operation being used to help pay back the loan packages