Where will the $10 billion go?

The recent loan agreement between China and Ghana has generated a lot of interests. The focus, obviously, is on the sheer size, but more importantly, where will the money spent on?

Due to a nature of combination of giant loans and smaller ones, the money maize is not evidently easy to crack. Here is my initial research:

The largest part is $5.9 billion committed by China Export-Import Bank. The money will fund around 19 projects identified between Ghana and China. They include health, agriculture, railway, roads and education sectors. Ghana has the right to propose alternative projects.

$3 billion will be from China Development Bank, which agreed to fund gas commercialization in the Western Ghana Region, including a gas processing plant in Bonyere, to utilize gas discovered at Jubilee and Sankofa oil fields.

At least $262 million will be used for water and sanitation. They include $250 million to support on-gong rehabilitation of Kpong Water Works and $12 million for building boreholes for rural communities and a modern sports complex and Kotokraba Market in Cape Coast.

Additional $20 million interest free loan will be used to construct fish landing sites in coast areas in the Central Region. The Ministry of Industry and Trade Tetteh said the loan comes with 2 percent interest rate and repayable over 20 years.