Parliament Considers More Loans

Seven subsidiary agreements between the government and China Development Bank Corporation under the Master Facility Agreements for various infrastructural projects of the Ghana Shared Growth Development Agenda have been laid in Parliament. The agreements, which are part of the $3 billion Chinese loan, have been referred to the appropriate committees of Parliament for consideration. They are Western Corridor Infrastructural Renewal-Takoradi Port Retrofit Phase 1 for an amount $150,000,000, Western Corridor Infrastructural Renewal �Railway Line Redevelopment Project for an amount $5,000,000,000 and Coastal Fishing, Harbour and Landing Sites Redevelopment Project for an amount of $200,000,000. Others are Accra Metropolitan Area (AMA) Intelligent traffic Management Project for an amount of $200,000,000, Eastern Corridor Multi-Modal Transportation Project for an amount of $450,000,000. The rest are Accra Plains Irrigation Project for an amount of $100,000,000 and Small and Medium Enterprise Projects Incubation Facility for an amount of $100,000,000. In a related development, two COFACE Buyer Credit Agreements between Ghana Grid Company (GRIDCo) Limited with Government of Ghana as guarantor and Societe Generale have also been laid in the House. The first agreement is for an amount of �34,054,465.08 for the financing of the Substations Reliability Enhancement Project (SREP) while the second one is for a loan facility of �48,148,370.02 to finance the Tumu-Han-Wa Transmission Project.