GHANA: Parliament approves €74m funding for drinking water in Tarkwa

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GHANA: Parliament approves €74m funding for drinking water in Tarkwa© Hari Mahidhar/Shutterstock

The Ghanaian parliament has approved the release of €74 million in funding to improve the supply of drinking water in the city of Tarkwa and its surroundings. The funding is being provided by several European finance companies.

That’s it. The Ghanaian parliament has approved €74.1 million in funding for the provision of drinking water in the town of Tarkwa, located in southwestern Ghana. The funding is part of a deal involving Commerzbank Aktiengesellschaft (Commerzbank AG), a commercial bank based in Frankfurt am Main, Germany, and the Belgian bancassurer KBC Bank. The two institutions are providing a loan of EUR 65 million.

The financing is accompanied by a EUR 9.1 million credit guarantee from Credendo, a credit insurance group based in Brussels, Belgium. The project at the heart of this transaction aims to improve the supply of drinking water in the Tarkwa-Nsuaem Municipal District through the construction of new drinking water supply facilities.

Read also- GHANA: Budapest lends €70 million for the construction of 13 wastewater treatment plants

According to the Ghanaian government, these investments will increase the city’s drinking water production capacity from the current 2.8 m3 per day to 27,000 m3 per day by the end of the 36-month construction period. It also involves extending the distribution network. The future installations will make it possible to meet the locality’s water demand, currently estimated at 15,000 m3 per day. The project should therefore make it possible to cover the needs of the population at least until 2040.

In addition to the town of Tarkwa, the project is expected to benefit the neighbouring municipality of Bonsa where the water supply system will be extended to serve the communities of Bonsa/Bonsaso, Bankyem, Charliekrom, Efuanta, Kwabedu, Mantrem, Agona Wassaw and Nsuta. The KBC Bank and Commerzbank funding also covers the provision of potable water to Tamso, Fanti Mines, Senyaekurase, Akyempem, Simpa, Dompin-Papase, Brofroyedu, Atoabo, Aboso, as well as the Tarkwa University of Mining and Technology.

Jean Marie Takouleu

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