The government is to begin the construction of a 200,000 housing units across the country to ease the housing deficit in the country.

The project which is estimated at $10 billion will be funded by the government of South Korea.

The agreement for the Housing project was signed during a visit to the Asian country by the vice president John Mahama and Works and Housing Minister, Alban Bagbin.

Abu Jinapor, spokesperson to the vice president in an interview with Joy News said 40 per cent of the housing units will be allocated to the security agencies.

The project he said marks the beginning of renewed relationship between the two countries. According to him, Exim bank of South Korea, having withheld their financial assistance due to Ghana’s adoption of the Highly Indebted Poor Country (HIPC) Initiative has promised to invest in the country’s economy.

“Exim bank of Korea for almost 12 years now has not extended any financial facility to Ghana because when we joined HIPC there were some bottlenecks. As a result of the vice president’s visit and deliberations with them, what happens is that Exim Bank will soon commence financial support to Ghana.

He said the Korean Construction Association has also been invited to invest in the country’s infrastructure.

Under the agreement the Korean government will also provide six boats to the Navy to facilitate patrols on the country’s territorial waters.