President John Dramani Mahama has expressed gratitude to Prime Minister Shinzo Abe and the people of Japan for the restoration of the Yen Loan Portfolio, which he said was cancelled in 2000.
The president, who is on a state visit to Japan, said in a Facebook post on Friday, in which he announced that Japan had set aside over Gh₵470 million to finance projects in Ghana.
President Mahama said the Japanese government had agreed, following discussions, to give Ghana GH₵391 million (¥11.2 billion) to build a new bridge over the Volta River.
He said the bridge, which was part of Ghana’s eastern corridor road network, would be critical in improving transportation between the northern part of Ghana and the south.
President Mahama said Japan would also finance the construction of the second phase of the Sekondi Fishing Harbour project, and a GH₵80 million ( ¥2.3 billion) Advanced Research Centre for Infectious Diseases at the Noguchi Memorial Institute for Medical Research at Legon in Accra.
He said many young people would also benefit from scholarships to study under the ABE Initiative.
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“All these will contribute greatly to the expansion of our country’s infrastructure and human resource to boost further growth. They also mean more new jobs in the near future, and more so, a transformational impact on our economy, with a significant multiplier effect,” he added.