Parliament: Govt lays agreements to borrow $235m to Finance Development Projects across Ghana

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The Government of Ghana is seeking to borrow over Two Hundred and Thirty Five Million United States Dollars (US$235) to finance some developmental projects across the country.

This was made public as five separate Loan Agreements were presented to Parliament on the first day of sitting of the emergency meeting of the House on Monday, September 24, 2018. The Finance Minister, Ken Ofori Atta laid the documents to that effect.

The loans, when approved by the House, would be used to finance among others, a proposed Tourism Development Project, the Ghana Commercial Agricultural Project (GCAP) and Construction of Advanced Research Centre for Infectious Diseases at the Noguchi Memorial Institute for Medical Research (NMIMR) University of Ghana, Legon.

The rest are: the proposed Public Sector Reform for Result Project (PSRRP) and to finance the Establishment and Strengthening of Agricultural Mechanisation Services Centre (AMSECs).

During the five days urgent meeting the House is also expected to consider among others, the following urgent matters: give approval to the President’s nominees as Justices to the Supreme Court Bench; and receipt of communication in respect of the President’s nominees for appointment as Ministers and Deputy Ministers and consideration of same.

This is to ensure that the Ministers assume their offices to oversee the preparation of the respective sector ministries’ budgets to feed into the presentation of the National Budget in November 2018.

Other matters include Consideration and passing of the Minerals Income Investment Fund Bill, 2018 for the full implementation of the 2018 Budget and Continuation of the Consideration of the Right to Information Bill, 2018.

According to the business statement for the emergency meeting ending Friday, September 28, 2018, the House may also consider the Report of the Committee on Mines and Energy on the Novation and Amendment Agreement to the Build, Own, Operate and Transfer Agreement between Ghana and Africa and the Middle East Resources Investment Group Llc (Ameri Energy) for the installation of ten (10) GE TM 2500+ aero derivative gas turbines, operate, maintain, transfer and provision of support services dated 10.02.2015 between Ghana, Volta River Authority, Africa & Middle East Resources Investment Group Llc., Ameri Energy Power Equipment Trading Llc., Power Projects Insaat Ticaret Limited Sirketi, and Mytilineos International Trading Company.

Source: Edzorna Mensah

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