KMA approve six projects to be impelmented under IMIF
The Metropolitan Chief Executive of Kumasi, Mr. Osei Assibey Antwi has hinted that authorities of Kumasi Metropolitan Assembly (KMA) have recommended six projects for implementation under the International Municipal Investment Fund IMIF.
Date Created : 6/11/2021 12:00:00 AM : Story Author : Susana Danso/Ghanadistricts.com
The establishment of IMIF by the United Cities and Local Governments (UCLG) together with their technical partner’s dates back to 2018 and the fund has been established to exclusively support cities and local Governments in developing countries by providing direct financial resources available to local government authorities through international capital market that will impact the achievement of the SDGs.
The Mayor speaking at the 1st Ordinary Meeting of the 2nd session of the 8th Assembly said the following projects Multi-storey car park (2500 capacity) at the Central market, Re-development of Krofrom market, Provision of BRT infrastructure, Construction of Kumasi City Hall Complex with mixed use facilities, Housing project at Dakwadwo /Manhyia, Establishment of an Abattoir and poultry Feed factory have been endorsed adding that an investment fund as part of the IMIF package is expected to finance the execution of the projects as a low-interest loan facility.
Mr. Assibey Antwi Presenting a report of the Metropolitan Authority disclosed that recommendations for the execution of the above cataloged projects were arrived at after the Assembly was selected as a pilot beneficiary city of the IMIF at the 2019 United Cities and Local Governments Conference held in Durban.
He announced that the Authority Committee has approved that the Assembly should make the necessary arrangements to access the loan facility as it has great potential to enhance the infrastructure development of the Metropolis.