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Ghana to use other sources to repay US$2bil China loan


ACCRA: Ghana will have to use alternative sources to pay back China’s Sinohydro Corp for US$2bil in infrastructure if the revenue from an earmarked bauxite project is insufficient to meet instalments.

Sinohydro agreed to a deal with the West African nation in May to build bridges, roads, hospitals and housing as part of the government of President Nana Akufo-Addo’s plans to lift economic growth. In return, Ghana undertook to repay the Beijing-based company with the proceeds of refined bauxite sales from a plant that is due to be commissioned and completed within three years.

Ghana

   

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