Ghana plans to set up infrastructure fund

Ghana has announced plans to set up a specialized fund to deal with the country’s infrastructural deficit.

To be known as the Ghana Infrastructure Fund (GIF), the facility is to mobilize funds through issuance of bonds among others to finance “strategic infrastructural developments”, Finance Minister Seth Terkper told Parliament November 19, 2013 when presenting the 2014 Budget Statement.

Mr Terkper said the GIF will be chaired by the Finance Minister and it is expected to be operational in the first quarter of 2014.

The Finance Minister disclosed that moneys to be raised from the new 2.5% hike in Valued Added Tax will all be channeled to the GIF.

He indicated the government will partner the private sector through Public-Private Partnership (PPP) in the operations of the fund.

By Ekow Quandzie