Tamale Airport in northern Ghana is set to receive a loan of $80m from KfW IPEX-Bank to support its expansion project.

The loan is guaranteed by the UK Export Finance (UKEF) agency.

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The British subsidiary of QGMI, an internationally operating Spanish construction company, is serving as the contractor.

KfW IPEX-Bank said in a statement: “The Ghanaian government and the IMF have described this project as one of the most important in the country in terms of Ghana’s industrialisation.

“With this financing, KfW IPEX-Bank is supporting sustainable development in Africa and at the same time contributing to strengthening the European export economy.”

“KfW IPEX-Bank is supporting sustainable development in Africa and at the same time contributing to strengthening the European export economy.”

Commissioned by the Ghanaian government, the project will include the construction of a multi-purpose terminal.

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Upon completion, the 5,000m² passenger terminal will have an annual capacity of 660,000 passengers.

Tamale Airport’s new terminal is intended to facilitate the export of agricultural products such as shea butter, cashew nuts, and mangoes.

Ghana vice-president Dr Mahamudu Bawumia said that construction work on the terminal is expected to start next month and the project would uplift the airport into a modern terminal.

The expansion project will also help the airport meet all international standard requirements.

Tamale Airport is expected to serve as an alternative airport to the Kotoka international airport and will have a maintenance hub for aircraft and other services.

The UK government pledged to provide $56m loan to support the expansion of Tamale Airport in February. The loan will enable the airport’s expansion to improve tourist access and promote economic growth.