15 major road projects stalled in 2024 over funding constraints
About 15 major road and infrastructure projects across Ghana were suspended in 2024 after government funding challenges linked to the country’s debt restructuring programme halted access to external financing.
The disclosure is contained in the 2024 National Annual Progress Report currently under review by Parliament’s Economy and Development Committee.
Among the affected projects are the Tema–Aflao Road Phase One, the Eastern Corridor Road Lot One, the Paa Grant Interchange, the Kumasi Roads and Drainage Extension Project, and the construction of 14 pedestrian bridges.
Responding to questions from lawmakers, Deputy Finance Minister Thomas Ampem Nyarko said the projects were put on hold because government could not draw down funds from creditors during the debt restructuring process.
He explained that negotiations with bilateral creditors have since progressed, allowing financing for some projects to resume.
Mr Nyarko also blamed the large number of projects awarded without dedicated funding for the widespread delays, noting that expenditure management remained a major challenge despite revenue outperforming targets in 2024.
According to him, reforms introduced by the Ministry of Finance now require government agencies to obtain commitment authorisation before awarding contracts, a measure aimed at preventing projects from being started without secured funding.
He assured Parliament that detailed updates would be provided on which stalled projects have resumed and those still awaiting financing.
Source: myjoyonline.com
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