Parliament has passed the buyer credit and commercial contract agreements between the government and some companies for the development of the Kumasi and Tamale international airports.

The Deputy Minister of Finance, Mr Cassiel Ato Forson, moved the motion for the adoption of the terms of the agreements and was seconded by the Chairman of the Finance Committee of Parliament, Mr James Avedzi.

Kumasi Airport

The first buyer credit agreement was between the government and Banco Santander S. A. and its affiliates for €65,037,500 for the development of one section of the Kumasi International Airport.

There was also a tied commercial loan agreement between the government and Banco Santander S. A. and its affiliates for €7,762,500 for the development of another section of the same airport.

The commercial contract agreement between the government and Contracta Construction UK Limited was for an amount of €66,350,000 for the design and execution of works for the development of the Kumasi International Airport.

Tamale Airport

For the design and construction of the Tamale International Airport, the government has entered into an agreement with Banco Santander S. A. and its affiliates for an amount of $56,000,000.

Another agreement for the design and construction of the same airport was between the government and Queiroz Galvao Construction UK Limited for $70,000,000.

There was also a tied commercial loan agreement between the government and Banco Santander S. A. and its affiliates for $24,000,000 for the design and construction of the Tamale International Airport.