Korean Government approves $100-million loan for Techiman Water Expansion, Rehabilitation project
The Government of the Republic of Korea has approved a US$100 million loan to fund the construction of the Techiman Water Expansion and Rehabilitation project in Ghana's Bono East Region. The project, which aims to significantly expand access to potable water, will be executed by the Ghana Water Company Limited (GWCL) in partnership with Messrs CHEIL-KECC-SAMAN JV of Korea. Construction is set to begin by the end of the third quarter of 2024.
At a news conference in Techiman, the Chief Manager of Project Planning and Development at GWCL, Francis Agyei-Boateng, confirmed that Korea Eximbank is funding the project, which will benefit several communities, including Nkenkansu, Akomadan, Afrantwo, New Techiman, Tanoso, Tadieso, and others. "Korea Eximbank has granted no objection for the signing of the contract to enable the project to commence," Mr. Agyei-Boateng stated.
The project, set to begin actual earth-moving work in about eight months, will take approximately 48 months to complete. It will include everything from engineering designs to contractor selection and full implementation. Upon completion, it is expected to provide improved access to clean and reliable water for residents in the Techiman Municipality and surrounding areas.
GWCL Managing Director, Dr. Clifford Braimah, noted that the government initiated discussions for the project as far back as May 2003 under the Economic Development Cooperation Fund (EDCF). The Export-Import Bank of Korea, the government agency responsible for the EDCF, conducted its first fact-finding mission in March 2019. This mission was crucial in clarifying the project scope, reviewing cost estimates, and confirming the project’s priority for the region.
A follow-up mission by the bank took place in July 2019 to finalize the project assessment. The team held meetings with the Ministry of Finance, the Ministry of Sanitation and Water Resources (MSWR), and the GWCL, and visited the project site in Techiman to confirm the activities required for implementation.
The Techiman Water Expansion and Rehabilitation project is poised to address critical water needs in Bono East, significantly improving the quality of life for thousands of residents by enhancing water supply infrastructure and providing more reliable access to clean water.
