Ghana Government Considers $170M Housing Plan For Civil Servants

Posted by Orb Staff on September 12, 2012 No Comments
Categories : Residential Mortgage

12371_300px-flag_of_ghana.svg Ghana Government Considers $170M Housing Plan For Civil Servants May it never be said that the government of Ghana does not respect its civil servants, as plans have been presented in the nation's parliament to provide 4,200 housing units for those employed in public service.

The Ghana Business News reports that the housing proposal will be financed by a $170 million loan agreement between the Ghanaian government, the British government's Export Credit Guarantee Department and Barclays Bank. A $30 million medium-term loan facility coordinated by CAL Bank Ltd. and other local banks will co-finance the design and construction of the housing units.

The cost of the housing project is approximately $155.7 million, with an average cost of $37,793 per housing unit. An estimated $44.3 million will be spent to provide associated infrastructure, which includes paved roads, sewage systems, streetlights and electricity for the new residences. Pending parliamentary approval, the project would be constructed by Italconstruct International Ltd., a Ghanaian-owned company.

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