Exim Bank grants $398.33m for 84km Tema-Akosombo railway line

Efo Korsi Senyo
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Efo Korsi Senyo
Managing Editor
Efo Korsi Senyo is the Founder and Executive Editor for AN Network - publishers of Awake News, Awake TV and Awake Africa Magazine. He founder Awake...
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Export-Import Bank of India (Exim Bank) has allocated $398.33m for design and construction of an 84km railway between Tema in the Greater Accra region and the Lake Volta port of Akosombo.

Export-Import Bank of India (Exim Bank) has allocated $398.33m for design and construction of an 84km railway between Tema in the Greater Accra region and the Lake Volta port of Akosombo.

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The bank is offering the buyer’s credit (BC) under National Export Insurance Account (NEIA) to the Government of Republic of Ghana.

BC-NEIA financing mechanism provides a safe mode of nonrecourse financing option to exporters in India and also serves as a market entry tool to both traditional and new markets in developing countries.

Exim Bank has approved $2.84bn for 22 projects valued $3.07bn under the programme to date.

The BC-NEIA programme enables demonstration of Indian expertise and project execution capabilities in emerging markets.

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In June, Ghana President John Dramani Mahama announced the government’s intention to construct the railway line.

Mahama said that the railway line will be used to move people and goods to the northern part of the country through the Volta River with Akosombo as the point of entry.

The Tema Akosombo Railway line will enable the country to pick containers and other cargo including fuel products, cement, and other such products along the line. The 1,435m gauge line will have four stations and two freight terminals.

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Source: railway-technology.com


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Efo Korsi Senyo is the Founder and Executive Editor for AN Network - publishers of Awake News, Awake TV and Awake Africa Magazine. He founder Awake in 2012 and served as the Chief Editor until 2022. He is a businessman and investigative journalist. Email: talktosenyo@gmail.com
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