KfW IPEX-Bank finances modernisation of the Tamale Airport in Ghana
News from 2019-05-06 / KfW IPEX-Bank
KfW IPEX-Bank is supporting the expansion of Tamale Airport in northern Ghana with a loan of USD 80 million. The loan is covered by government export credit insurance of the UK Export Finance (UKEF) agency. The contractor is the British subsidiary of QGMI, an internationally operating Spanish construction company. The project was commissioned by the Ghanaian government: construction of a new passenger- and a multi-purpose terminal.
Tamale is one of the fastest growing cities in western Africa. Tamale Airport is evidence of this growth. There are capacity bottlenecks, which are exacerbated by the obsolete equipment in use at the passenger airport. Once completed, the 5,000 m² passenger terminal will have an annual capacity of 660,000 passengers.
Northern Ghana is an important region for fruit and vegetable farming. The new multi-purpose terminal is also intended to facilitate the export of agricultural products like shea butter, cashew nuts and mangoes. The Ghanaian government and the IMF have described this project as one of the most important in the country in terms of Ghana's industrialisation.
With this financing KfW IPEX-Bank is supporting sustainable development in Africa and at the same time contributing to strengthening the European export economy.