The Minister of Information, Mr Kojo Oppong Nkrumah, who disclosed this at a press briefing in Techiman in the Bono East Region, said repayment of the loan would start after 10 years of signing, and indicated it would take the government 20 years to defray the loan.

He added that 49 per cent of the loan was a grant from the people of Saudi Arabia.

The Minister of Finance, Mr Ken Ofori-Atta, and the Vice Chairman of the Saudi Fund for Development, Mr Khalid Alkhudairy, signed the agreement in Accra last week on behalf of their respective governments, Mr Oppong Nkrumah stated.

Operation

"Works are expected to be completed in October 2020, paving the way for the full operation of the hospital for affordable and quality health care to the people in the Upper East Region and beyond, especially towns and communities in and around Bolgatanga," Mr Oppong Nkrumah said.

The Information Minister said phases one and two of the project were started during President John Agyekum Kufuor's administration, explaining that phase three was signed in December 2013, although actual work began in February 2014.
He said work on the clinical block was fully completed and awaiting equipment installation.

Mr Oppong Nkrumah said final works on the project would focus on supply of equipment and operating supplies and other ancillary works.

He said the government was also working on completing several uncompleted medical facilities, which were outstanding as a result of the poor financing arrangements associated with them.