Home   >   Politics   >   Parliament   >   201410
Ghana Parliament Approves Ten Different Loan Agreements
<< Prev  |  Next >>
Comments ( 0 )     Email    Print
Related Stories
Parliament has approved ten different Loan Agreements between the Government of Ghana and Seven International Financing Banks and their partners for various credit facilities to undertake some key infrastructural projects.

The projects include the construction of a flyover on the Ring Road leading to Kwame Nkrumah Circle, Interchange at Kasoa and a Water Supply System at Essakyir in the Central region.

The Lending Banks include the China Development Bank, Deutsche Bank, BNP Paribas Fortis, Societe General, KBC Bank and Construtora Quieroz Galvao of Brazil.

The Deutsche Bank and its partners are providing over 332 million US Dollars under separate agreements for the design and construction of the proposed Kasoa Interchange and Ancillary works.

BNP Paribas Fortis, Construtora Quieroz Galvao and partners are also advancing 140 million US Dollars for the construction of a new Flyover bridge from Ring Road Central and additional construction works around the Kwame Nkrumah Circle Interchange.

Societe General and Construtora Quieroz Galvao are also providing over 85 million US Dollars for the financing of the Accra Streets Resurfacing Project while International Development Association is lending 50 million Dollars as additional financing for Social Opportunities Project.

KB Bank of Brussels is offering three million British Pounds Sterling as supplementary funding for the Essakyir Water Supply System in the central region.

The Chairman of the Finance Committee James Avedzi presented the reports of the Committee for the approval of the loans.

A member of the Finance committee Kwaku Kwarteng was not happy that government is borrowing money to undertake what he termed patch potholes in Accra.

The Speaker of Parliament Edward Doe Adjaho admonished Ministries and Agencies responsible for the execution of the projects for which the loan agreements have been approved to ensure value for money.

He urged the select committees to perform their oversight responsibilities over the approved loans to ensure that the money is used for the intended purpose.

Meanwhile, the Speaker of Parliament Edward Doe Adjaho has assured MPs of the Parliamentary Service Board’s commitment to ensuring the completion of the expansion works on the Parliamentary Chamber on schedule.

He said the contractor has promised to finish the works and handover before the House resumes its last sitting for the year.

Mr. Adjaho announced this to the MPs when adjourning the emergency sitting on Thursday.

The sitting was held at a Committee Room of the Accra International Conference Centre due to the ongoing works in the Chamber.
Source: GBC

Comments ( 0 ): Post Your Comments >>

Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.