Parliament has approved a Loan Agreement between Ghana and the African Development Fund for an amount of 48.85 million US dollars, to finance the Greater Accra Sustainable Sanitation and Livelihood Improvement Project (GASSLIP).
The Loan Agreement, which will mature in 30 years, has a 25 year repayment period and a grace period of 5 years. It also has a 1% per annum Interest Rate, 0.75% per annum Service Charge and 0.5% per annum Commitment Charge.
The project aims at improving the socio-economic well-being and health standards of residents living within the Greater Accra Metropolis. This is to increase access to improved sanitation and hygiene in a sustainable and resilient manner. It is also expected to strengthen public and private sector capacity to better deliver and manage sanitation infrastructure.
Presenting a Report on the Joint Committee on Finance and Works and Housing of Parliament on the Loan Agreement, Finance Committee Chairman, Hon. Dr. Mark Assibey-Yeboah, said the project is part of the interventions by the government to expand and build on the success of the previous African Development Bank-funded Accra Sewage Improvement Project (ASIP) and the on-going Greater Accra Metropolitan Area (GAMA) Sanitation and Water Project to better deliver and manage climate resilient sanitation services within GAMA.
