The government has received additional funding of $150 million from the World Bank to enhance flood resilience in the Odaw River Basin within the Greater Accra Region.
The loan has been allocated for the implementation of the Greater Accra Resilient and Integrated Development (GARID) Project, which aims to address various objectives, including the improvement of flood risk management and solid waste management in the Odaw River Basin.
Pierre Laporte, the Country Director for Ghana, Liberia, and Sierra Leone at the World Bank, expressed his satisfaction with supporting Ghana during these challenging macroeconomic times. He emphasized the importance of contributing to a comprehensive flood management approach through this supplementary financing for GARID.
Mr Laporte further elaborated on the significance of this gesture in achieving the World Bank’s objectives of eradicating extreme poverty, promoting shared prosperity, and enhancing the resilience of African cities.
The additional funding will help bridge a financing gap that arose from the activation of the Contingency Emergency Response Component (CERC) in 2020 due to the COVID-19 pandemic. It will also cover the costs associated with resettlement compensation for approximately 2,800 individuals affected by the project.
Furthermore, the Country Director emphasized that the additional funding also tackles cost overruns resulting from inflation and engineering demands associated with significant infrastructure investments.
Catherine Lynch, the Senior Urban Specialist and Task Team Leader for the GARID project, added her perspective, stating that the planned flood mitigation infrastructure investments within GARID will have a direct and positive impact on reducing flood risks in urbanizing and economically active areas of the Greater Accra Region. As a result, the project will effectively minimize the direct hazards of flooding for over 138,000 individuals.
Source: Daily Guide
