The entire project is estimated to cost $94 million and government will contribute a counterpart funding of $11 million to support the project.
The construction of the three-tier interchange which is expected to commence next year will take three years to complete.
Mrs. Marie-Laure Akin-Olugbade, AfDB’s Resident-Representative in Ghana, signed for her organisation while Mr. Seth Terkper, the Minister of Finance signed on behalf of Ghana.
The first tier of the interchange will link Accra to Nsawam and is part of the existing Accra-Nsawam-Kumasi Highway.
The middle tier can be used to access Awoshie, Pokuase ACP, Accra and Nsawam while the third tier connects Awoshie to Pokuase ACP.
The construction is aimed at removing the bottleneck at the Pokuase junction by preventing streams of traffic conflicting with one another from the Awoshie-Pokuase and Accra-Kumasi roads.
Mr. Terkper said the project is an integrated one and would involve the construction of schools, construction of a market among others.
This, he said, would make the communities around the project area to feel part of the project adding that it would lead to the economic transformation of the communities.
He said the project was a demonstration of the government’s commitment to developing the nation’s infrastructure to speed up development.
Commenting on the project, Mrs Akin-Olugbade said it is a significant development as it would help ease the heavy traffic congestion on that stretch of the road.
She said the bank had been a witness to the transformation in the road sector and was committed to partnering the government to undertake more such projects.
Mrs. Akin-Olugbade expressed the hope that the project would be completed on time and on budget.
By David Adadevoh