The 1,044 Ghana Education Trust Fund (GETFund) uncompleted projects nationwide will soon be completed.
Dr Richard Boadu, Administrator, GETFund speaking to Kwami Sefa Kayi on Peace FM's morning show 'Kokrokoo' said the uncompleted projects are made up of 544 basic school level infrastructure, two technical and vocational education and training (TVET) centres, nine model schools and 487 infrastructure at the second-cycle school level, with the remaining two projects at the tertiary level.
Asked how the projects will be financed, he said GETFund’s annual budgetary allocations, as well as proceeds from bonds, will be used.
"Funding for the projects would be released on a yearly basis within the next three years, upon approval by Parliament" he added.
E-Block Project
Commenting on the delays to completing E-block projects he said: “Take for instance a contractor who was awarded an E-Block project in 2013 or 2014 at say GHS10m. Five to six years down the line, the contract sum has clearly lost its value because of currency depression, interest rate and inflation, among others.”
“The fluctuation clause clearly cannot cushion them against these variations. We have already engaged consultants on these 20 E-blocks to review the contracts so that we can look at new rates for subsequent approval by the Fund,“ he added.
<<Print>>