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The Japan International Cooperation Agency (JICA), has signed two agreements with the Ghanaian government to construct a flyover at the Tema Interchange as well as offer scholarships to some Ghanaians. The grant amount for the Improvement of the Tema Motorway Roundabout Phase 2 (Detailed Design) project is One Hundred and Nine Million Japanese Yen (JPY 109,000,000.00), equivalent to about US$ 1 Million. Whiles the grant aid for the Project for Human Resource Development Scholarship (JDS) program for the year 2021 was Two Hundred and Sixty-three Million Japanese Yen (JPY 263,000,000.00), equivalent to about US$ 2.4 Million. The Tema Interchange Project will complement the completed phase 1 interchange project to alleviate serious traffic congestion and improve logistics from/to Tema port to boost trade among Ghana and neighbors’ countries.

The eurozone economy will sink deeper into recession than previously thought due to the effects of the pandemic, the European Commission (EC) has said. The bloc will contract a record 8.7% this year before growing 6.1% in 2021. It compares with the EC’s May forecast of a 7.7% slump and 6.3% growth. France, Italy and Spain will struggle the most, the EC said.
Its revised forecast comes amid concerns about the US economy after a surge in infections. This has prompted several states to delay or reverse lifting restrictions.

A representative of the Ghana Real Estate Developers Association (GREDA), has revealed that 50 percent of potential mortgage and housing deals have come to a halt as a result of the Coronavirus pandemic. According to him, the adverse impact of the pandemic, has led to an operational capacity of 30 percent for real estate and house developers. “The coronavirus pandemic had led to estate developers operating at a maximum capacity of 30 percent, with more than 50 percent of potential mortgage deals being cancelled or put on hold while the servicing of existing ones had been distorted,” the representative told GhanaWeb in an interview. However, a housing expert, Foster Osae-Akonnor told GhanaWeb the demand for housing and mortgages in general has since dwindled across the country. According to him, government needs to provide incentives for architects and contractors in order to sustain the sector from a collapse.

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