Ghana MPs to scrutinize $200m loan deal for cocoa sector

Although MPs have been recalled from recess specifically to sit until early October to ensure the passage of the Constitutional Instrument, which is to enable the EC create the 45 new constituencies, members of the House are also using the time to scrutinize and approve a number of loans.

A $200 million facility to support infrastructural development connected with the production of cocoa in the country is to be laid before members for deliberation. This loan is a medium-term trade agreement between Ghana Cocoa Board and Barclays Bank, Plc (Mauritius Branch) and Ecobank Ghana Limited among other financing institutions.

Other loan facilities to be scrutinized are a 7,600,000.00 Euros agreement to finance the implementation of pedestrian bridges at hazardous road locations in the country and a 9,857,852.00 Euros agreement for the supply of steel bridges for the enhancement of rural development on selected feeder roads.

The joint committees of parliament on Finance and Health are also expected lay before members for deliberation a report containing an agreement between government and Stanbic Bank Ghana for an amount of 15,800,000.00 Euros for the purchase of 200 ambulances for the National Ambulance Service.

The Finance and Works and Housing Committees would also lay another report containing a loan facility between government and the Export Credit Bank of Turkey Inc., for an amount of $135,964.703.17 for the implementation of the Akim Oda, Akwatia and Winneba water supply projects.
The same water project will also benefit from another long-term agreement to be laid before the House made up of $28,970,899.38.

By Eunice Menka