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Approval of Additional Financing for the GARID Project

Approval of Additional Financing for the GARID Project

Accra, 21st May 2024... On Friday, 17th May, 2024, Parliament approved US$150 million from the World Bank as additional financing for the implementation of solid waste management, drainage improvements, and other flood mitigation measures under the Greater Accra Resilient and Integrated Development (GARID) Project.

The World Bank financing will support a broad range of initiatives aimed at mitigating floods and improving solid waste management in the Odaw River Basin. Key projects include:

  • Repair works on sections of the Odaw Basin,
  • Construction of storm drains in Kaneshie and Nima-Paloma,
  • Creation of water detention ponds,
  • The establishment of a Flood Early Warning System in the Greater Accra Region,
  • The construction of a waste transfer station and an engineered landfill site, among other interventions.

The implementation of these projects is expected to alleviate flooding along the Odaw River Basin by improving drainage, solid waste management, and infrastructure services in high-risk informal settlements within the basin. As a result, approximately half a million people dwelling in low-income communities around the Odaw basin are expected to benefit directly and indirectly from these projects.

Disbursements under this project and other expected inflows from the IMF, World Bank and African Development Bank will further support the exchange rate and macroeconomic stability.

The Ministry of Finance hereby assures all stakeholders that, the Ministry will continue to work with relevant institutions to ensure that the facility is well-utilised to achieve its project development objectives. END

                                                                                                                                             ISSUED BY THE PUBLIC RELATIONS UNIT
                                                                                                                                                           MINISTRY OF FINANCE