UPDATE 1 – Ghana is financing new road section with Standard Chartered loan

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ACCRA, June 28 (Reuters) – Ghana’s Treasury Department has signed a € 280 million ($ 334 million) loan agreement with Standard Chartered to finance the construction of a new section of the highway, a British bank said on Monday.

The bank said in a statement that the loan will fund a 64-kilometer (40-mile) section of Ghana’s East Corridor, which will include two flyovers and interchanges, 11 pedestrian bridges and three multi-purpose bridges.

“With over 125 years in Ghana, we can advise and play a leading role in bringing liquidity around the world for major sustainable infrastructure projects in the country,” said Horse Godzi, Head of Standard Chartered in Ghana.

Ghana’s finance ministry said in March that the government will raise up to $ 5 billion in capital markets this year to fund its 2021 budget and manage its debt.

1 dollar = 0.8387 euros Report by Christian Acorli Written by Cooper Invin Editing by Aaron Ross and Mark Potter

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