The African Development Bank (AfDB) is working to advance some additional funds to support on-going infrastructure projects and the agricultural sector in the coming months.
President of AfDB, Akinwumi Adesina, says the move is part of its efforts to help the government overcome some of the financial challenges facing the country.
“Hopefully once that (facility) is approved by the AfDB board, it is going to allow [government] to cope with some of the fiscal imbalance that government is facing,” Adesina said.
The regional multilateral development bank is also investing in the energy, agriculture, water, health and sanitation.
Adesina revealed that the agriculture component of the yet-to-be-advanced $100 million dollar facility would focus on boosting agriculture in the northern part of the country.
“The reason for northern Ghana is that the poverty in northern Ghana is extreme,” he said.
Over 80% of people in northern Ghana’s Upper West and Upper East live on less than a $1 a day and Adesina says the plan is to improve that.
The Bank has already previously released $120 million to upgrade the Kotoka International Airport.