Ghana’s quest for economic stability and infrastructure renewal received a major boost after the country signed a US$256 million Bilateral Debt Restructuring Agreement with the United Kingdom.
The deal, inked in Accra by Finance Minister Dr. Cassiel Ato Forson and UK Trade Commissioner for Africa, Mr. John Humphrey, goes beyond easing Ghana’s debt burden. It paves the way for the resumption of funding by UK Export Finance (UKEF) for five large-scale projects critical to Ghana’s development.
The projects include:
- The Bolgatanga–Bawku–Pulimakom Road Project
- Modernisation of the Komfo Anokye Teaching Hospital (KATH)
- Obetsebi Lamptey Interchange and Ancillary Works Project Phase II
- Phase 1 of the Tema–Aflao Road Project
- Redevelopment and Modernisation of the Kumasi Central Market
Dr. Forson described the agreement as a milestone that restores confidence while urging Ghanaians to see it as a call to action. “It is our hope as a nation never to return to this point of debt distress,” he said, commending the Ministry of Finance team for their role in the breakthrough.
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Mr. Humphrey called the deal a landmark moment in UK–Ghana relations, highlighting that the agreement is more than a financial transaction—it is a partnership fueling real economic transformation. He noted that the projects will directly impact livelihoods and support initiatives such as Ghana’s “24-Hour Economy” and “Big Push” agenda.
The agreement is Ghana’s third bilateral restructuring deal under the G20 Common Framework, following earlier pacts with France and the Export-Import Bank of China.
With the new deal, Ghana is not only restructuring its debt but also reigniting stalled projects that are vital to jobs, health care, transport, and trade.
