Ghana government to pay loan contracted by Krachi-East Assemby – President
President John Dramani Mahama on Wednesday announced government’s intention to pay a loan that the Krachi East District Assembly contracted in 2008 for the construction of a market project.
He said the loan and its attendant interests had become an albatross on the neck on the Assembly as their share of the District Assemblies fund had been used in servicing the debt over the years.
President Mahama announced this when he commissioned a 70-Kilometre Jasikan-Worawora-Dambai road at Dambai.
In 2008, government took a GH¢2 million loan from the Social Security and National Insurance Trust as a pilot programme for the Assembly to construct a market project.
Although the Assembly managed to pay GH¢0.7 million of the loan over the years, the Assembly still needed to pay GH¢1.6 million as a result of the increasing interests rates, plunging the Assembly into serious financial stance.
The absorption of the loan would, therefore, provide some respite for the Assembly to undertake more development projects.
President Mahama said the Jasikan-Worawora-Dambai road was reconstructed to facilitate the movement of goods and services between the Volta and Northern Regions.
He said the GH¢65 million road project was wholly constructed from the Government of Ghana coffers to provide quality services to the people.
President Mahama said two pontoons that were procured as a stop-gap measure transporting people and goods when the Adomi bridge was under rehabilitation would now be moved to Dambai and Yeji-Makango.
The President said GH¢300,000.00 would also be released to people who lost their property during the construction of the projects.
Alhaji Inusah Fuseini, Minister for Roads and Transport, said the there was a re-alignment of parts of the road with better gradient for heavy duty vehicles on portions of the road.
He said apart from the expansion, there were also sign posts, road markings and other constructions to make it a major highway.
Nana Odan Gyamfi II, Paramount of Asukawkaw, commended President Mahama for the development projects the area has so far received and appealed for the upgrading of their health facility in the area.
Source: GNA