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HomeAfricaGhana, BADEA sign US$6m loan pact

Ghana, BADEA sign US$6m loan pact

The Arab Bank for Economic Development in Africa (BADEA) and the Republic of Ghana have signed a loan agreement worth US$6 million to finance Rad iotherapy and Nuclear Medicine Treatment Services project in the West African nation, BADEA said in a statement obtained by PANA here Monday.

The agreement was signed in Cairo, Egypt, by the BADEA’s Director-General, Mr. A bdelaziz KHELEF, and Ms. Mavis Kusorgbor, Chargé d’Affaires of the Embassy of Ghana in Eg ypt

The loan is repayable in 30 years, including a grace period of 10 years, and at an annual interest rate of 1%.

It is aimed at enhancing development relations between BADEA and Ghana and falls within the framework of consolidating Afro-Arab cooperation.

The funds will be used to expand and upgrade the range of radiotherapy and nucle ar medicine services to ensure continuity of services delivery, thereby improving chances of cure and reducing the mortality rate attributed to cancer diseases, particularly for women, children and the productive age group.

The latest loan brings to US$151.67 million BADEA’s total commitment to Ghana.

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