Loans to improve water, electricity sector before Parliament

Parliament is expected to approve three loans including a $103 million facility that would help in the financing of the National Electrification Scheme and improve water supply in some parts of the country.

The $103 million facility is a credit agreement between the government of Ghana and CitiBank N.A. of South Africa. The loan is to support the Upper East Electrification project under the National Electrification Scheme.

The facility is currently before Parliament’s Finance Committee for scrutiny before the House can give its approval.

The Committee is also expected to scrutinize a credit agreement between the government and the UniCredit Bank, Austria for an amount of 7.9 million Euros for the rehabilitation and expansion of five towns’ water supply systems in Anyinam, Apedwa, Kibi, Kwabeng and Osenase in the Eastern Region.

A Rural Enterprise Programme for the country is to be co-financed by a credit agreement between government and the International Fund for Agriculture Development (IFAD) with an amount of $31.5 million.

This agreement is also before the Finance Committee for scrutiny before approval by Parliament.

By Eunice Menka