Parliament approves loan to finance secondary school project As part of NDC manifesto promise to construct 200 community day senior high school, expansion of infrastructure including classrooms, accommodation, laboratories and teaches accommodation in existing secondary school. • Parliament yesterday passed the $156 million International Development Association (IDA) loan facility to finance the Ghana Secondary School Education Improvement Project. • The loan is to be used to construct 23 new senior high schools (SHSs) in selected districts, improve 50 existing SHSs through the expansion and rehabilitation of existing structures and facilities, as well as quality improvement to an addition 75 existing SHSs. • According to the project cost breakdown, the construction of the 23 new schools would cost $98.9 million, while upgrading of the 75 existing SHSs was valued at $9 million. • Expansion of the 50 schools to increase capacity to absorb more students would cost $ 16 million, while scholarships for 10,400 students to pursue SHS education for three years would cost $15.6 million. • $15.9 million of the loan to be used for research, monitoring and evaluation, which part would be used to conduct an impact valuation cost, while another would be on the creation of an ICT platform to electronically monitor the progress of work. • Also the $15.9 would also be used to procure vehicles for the district education offices to monitor construction in the various locations in the country. • The loan has a 1.25 per cent interest rate, 20 year repayment period, 60 month grace period, a 0.5 per cent per annum commitment charge on the principal amount.
Posted on: Thu, 03 Jul 2014 09:03:17 +0000
Trending Topics
Recently Viewed Topics
© 2015