Ghana and the Kingdom of Saudi Arabia on Wednesday signed a concessional loan agreement, under the 'Saudi Fund for Development' to finance the construction of health projects in the Upper East Region.
The loan, among other things, would help to supply the installation of medical equipment to the Adjunct Clinical Block at the Bolgatanga Regional Hospital in the Upper East Region.
The Saudi Riyal (SR) 75,000,000 loan, equivalent to 20,000,000 dollars, with an interest rate of 1.0 per cent per annum and a tenor of 30 years.
It has a grace period of 10 years and a repayment period of 20 years at a total grant element of 49.0 per cent.
Mr Ken Ofori-Atta, the Minister of Finance, signed for Ghana while Mr Khalid S. Alkhudairy, the Vice Chairman of the Saudi Fund for Development, signed for Saudi Arabia.
