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KIA Terminal 3 gets $30m oil money – PIAC



About $30 million of the funding required for the construction of the Newly Built Terminal Three of the Kotoka International Airport (KIA) was sourced from oil revenues.

The figure, which represents 12 % of the total funding of the $250 million project, was from the Annual Budget Funding Account’s (ABFA’s) allocation to the Ghana Infrastructure Investment Fund’s (GIIF’s) in 2016. The remaining was sourced from Africa Development Bank and Development Bank of Southern Africa (DBSA).

Dr Stephen Manteaw, the Chairman of the Public Interest and Accountability Committee (PIAC) disclosed this at a workshop by the Institute of Financial and Economic Journalists (IFEJ) and German Development Corporation (GIZ) in Koforidua in the Eastern Region on February 16.

He said the new Terminal, which had become a tourist attraction for many travellers, received $30 million allocation from the Oil Proceeds.

he said, “the newly built terminal three received $30 million from the oil proceeds through GIIF but most Ghanaians were yet to be informed about it. This is in spite of the fact that the facility was opened to the travelling public on September 15, 2018.

As a result, Dr Manteaw underscored the need for projects developed with oil proceeds to be labelled for Ghanaians to appreciate whether the oil proceeds were being utilised well or not.

The post KIA Terminal 3 gets $30m oil money – PIAC appeared first on Ghana Live TV.

This post first appeared on Watch Gtv Ghana, Adom TV, Tune Ghana Radio GhanaLi, please read the originial post: here

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KIA Terminal 3 gets $30m oil money – PIAC


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