Ghana has taken another decisive step in its journey toward economic recovery with the signing of a US$256 million Bilateral Debt Restructuring Agreement with the United Kingdom. The agreement, signed in Accra by Ghana’s Minister for Finance, Dr. Cassiel Ato Forson, and Mr. John Humphrey, His Majesty’s Trade Commissioner for Africa, marks the third bilateral deal concluded by Ghana under the G20 Common Framework, following earlier agreements with France and the Export-Import Bank of China.
Unlocking Key Infrastructure Projects
The deal goes beyond debt restructuring, paving the way for the reinstatement of financing by UK Export Finance (UKEF) to support five major infrastructure projects:
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Completion of the Bolgatanga–Bawku–Pulimakom Road Project
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Modernisation of the Komfo Anokye Teaching Hospital (KATH)
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Obetsebi Lamptey Interchange and Ancillary Works Project Phase II
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Construction of Phase 1 of the Tema–Aflao Road Project
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Redevelopment and Modernisation of Kumasi Central Market
These projects are expected to boost road connectivity, modernize critical health facilities, and improve trade and commerce, directly impacting millions of Ghanaians.
A Relief and a Call to Action
In remarks at the signing, Dr. Forson described the agreement as both a relief and a responsibility.
“This is an important breakthrough for Ghana. But it is also a call to action. It is our collective hope never to return to this point of debt distress,” he said, while commending the Ministry of Finance team for their dedication and reaffirming the government’s commitment to restore debt sustainability and accelerate growth.
Strengthening UK–Ghana Relations
Mr. John Humphrey welcomed the agreement as a “landmark moment” in the partnership between Ghana and the United Kingdom.
“This is more than a financial agreement—it is about building real, transformative infrastructure that will shape Ghana’s future. It demonstrates that initiatives such as the 24-Hour Economy and the Big Push are not just slogans, but commitments backed by international collaboration,” he noted.
The UK High Commissioner to Ghana, H.E. Christian Rogg, and the Chief Director of the Ministry of Finance, Mr. Patrick Nomo, were also present at the ceremony.
Looking Ahead
The agreement represents a renewed confidence in Ghana’s economic recovery agenda, strengthening investor trust and unlocking critical funding for projects that will stimulate growth, create jobs, and enhance social development.
