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UPDATE 1-Ghana to fund new highway stretch with loan from Standard Chartered

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ACCRA, June 28 (Reuters) - Ghana’s finance ministry has signed a loan agreement worth 280 million euros ($334 million) with Standard Chartered to fund a new section of highway, the British bank said on Monday.

The loan will fund a 64-killometre (40-mile) section of Ghana’s Eastern Corridor that will include two flyovers and interchanges, 11 pedestrian bridges and three mixed-use bridges, the bank said in a statement.

“Having operated in Ghana for over 125 years, we are able to advise and play a leading role in tapping liquidity around the world for major sustainable infrastructure projects in the country,” said Xorse Godzi, Standard Chartered’s country head in Ghana.

Ghana’s finance ministry said in March the government would borrow up to $5 billion from capital markets this year to finance its 2021 budget and manage its debt.

$1 = 0.8387 euros Reporting by Christian Akorlie Writing by Cooper Inveen Editing by Aaron Ross and Mark Potter

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