A LOAN agreement for US$12 million was yesterday signed between the Government of Ghana and the Saudi Fund for Development to assist in financing rehabilitation and expansion works at the Upper East Regional Hospital in Bolgatanga.
The agreement was signed on behalf of the Government of Ghana by the Minister of State at the Ministry of Finance and Economic Planning, Dr Anthony Akoto Osei, and the Vice-Chairman and Managing Director of the Saudi Fund for Development, Mr Yousef I. Al-Bassam.
At the ceremony, Dr Osei said the government of Ghana would provide additional $2.05 million to support the implementation of the project.
He said the objective of the project was to support the government’s policy under the Health Sector Implementation Programme of constructing, rehabilitating and expanding fixed, as well as mobile health facilities through effective means in the deprived regions of the country.
Dr Osei noted that the rehabilitation of the Bolgatanga Hospital was a manifestation of that initiative, especially for the people of the Upper East Region.
Dr Osei observed that, the government and various institutions in Saudi Arabia had always been good to Ghana adding that in 1999, the Arab Bank for Economic Development in Africa granted a loan facility of $4.1 million to Ghana for the first phase of the project and followed it up with an additional $1.2 million in 2003 to address a funding shortfall.
On his part, Mr Al-Bassam said in addition to the Bolgatanga Hospital, the Saudi Fund had previously participated in the financing of eight other developmental projects in the various sectors with more than $90 million.
He said the agreement showed the great interest the Kingdom of Saudi Arabia had in supporting sincere and continued efforts of the government of Ghana in promoting the well being and economic prosperity of the people of Ghana.
A deputy Minister of Health, Mr Abraham Dwoma Odoom, said the ministry had taken steps to commence the implementation of the project from December, 2008.
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