Minister of Finance Dr. Cassiel Ato Forson has engaged the European Investment Bank (EIB) on a €323 million financing package for the Northern Ghana Water and Sanitation Project.
In a post shared on social media, after the meeting with EIB Vice-President Ambroise Fayolle, Dr. Forson described the engagement as productive and said discussions focused on the financing package for the project.
He explained that the proposed package comprises a €68 million grant from the European Commission, a €30 million grant from Invest International, a Dutch government initiative, and a €225 million highly concessional financing facility from the European Investment Bank.
The combined package amounts to €323 million, with grants accounting for €98 million and the EIB facility making up the remaining €225 million.
The project is expected to address longstanding water supply challenges in Tamale, Yendi, and Damongo while improving sanitation services in the three communities.
