The Kumasi Metroploitan Assembly Mayor, Hon. Osei Assibey-Antwi says the $250m financial assistance from the International Municipal Investment Fund (IMIF) will be used to earmark growing projects such as a multi-purpose car at the city center, the redevelopment of the Asafo and Krofrom markets and improvements of aspects of the Bus Rapid Transit (BRT) system in Kumasi.

KMA was among local Authorities in 14 countries selected by the IMIF at the United Cities and Local Governments (UCLG) Congress and the World Summit of Local and Regional Leaders held in Durban, South Africa, from November 11 to 15, 2019.

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According to the Kumasi Mayor, he presented a paper on the projects planned for Kumasi to an international audience at the conference.

He revealed to Daily Graphic that a technical team from the IMIF would be in the capital of the Ashanti Region in January next year to provide technical support as KMA wait for the passage of the Local Government Financing Bill by Parliament by June next year to enable the assembly to start accessing the fund.

The IMIF is a joint initiative of the United Nations Capital Development Fund (UNCDF) and the UCLG, an umbrella organization for cities, local and regional governments and municipal associations throughout the world which aims to facilitate access to financing for capital investment projects by local governments on national and international financial markets.