President Nana Akufo-Addo of Ghana hails agreement with the United Nations Office for Project Services on building affordable homes as “new dawn for Ghana and our citizens”

THE United Nations Office for Project Services, UNOPS, landmark agreement with government of Ghana on building affordable homes, has moved forward this week with the Grete Faremo, executive director, announcement this week in New York.

As part of the agreement, UNOPS and its partners seek to attract $436 million worth of investment to deliver at least 100,000 affordable homes across the country.

The project, which will last between six and 10 years, will also provide job opportunities for local communities nationwide and help towards alleviating the housing crisis in Ghana.

The UNOPS is to invest $11 million in seed funding and the project has an estimated gross development value of $5.3 billion.

The agreement is a major milestone in UNOPS commitment to fostering innovative financing for the sustainable development goals, SDGs, and will help the government of Ghana open access to sustainable, affordable and environmentally sound housing for its citizens.

Faremo said: “There is great potential to improve access to sustainable and resilient housing for thousands of people in Ghana.

“At the same time, this project will work to boost livelihoods and the local economy.

“The knock-on effect means unlocking new opportunities and resources for local communities, which helps drive progress towards the SDGs”.

The 100,000 houses are to be constructed using energy-efficient solar rooftops, and manufactured locally, which will provide up to 3,000 jobs for local people.

In a previous statement on the project, President Akufo-Addo said: “I believe we are all well aware of the challenges Ghana, and most of Africa, faces when it comes to the provision of decent, well-planned and organized housing for our citizens. The difficulty in addressing this on-going challenge has led to a huge housing deficit in our country.

“I believe that with the signing of this project agreement, we shall be ushering into existence a new dawn for Ghana and our citizens”.

UNOPS Social Impact Investment Initiative (S3i) seeks to de-risk infrastructure investment projects in an effort to help attract financing from the private sector to national development agendas. Projects selected are subjected to a rigorous due diligence process that will ensure a positive environmental, social and economic impact, with a financial return.

UNOPS mission is to help people build better lives and countries achieve peace and sustainable development. We help the United Nations, governments and other partners to manage projects, and deliver sustainable infrastructure and procurement in an efficient way.