Parliament to scrutinize over $900m infrastructure loans before rising

Come Thursday March 22, 2012, Parliament will rise, but before the House rises, it will scrutinize loans totaling over $900 million for the execution of various projects involving transportation, railway lines, harbours and a traffic management programme.

The loans are part of a subsidiary agreement under the Master Facility arrangement between the government of Ghana and the China Development Bank Corporation. Majority of the projects are part of the western corridor infrastructural development programme.

An $200 million -loan goes into the development of coastal fishing, harbours and landing sites along that corridor while  $500 million is for the railway lines.

The Takoradi Port takes $150 million, and an Eastern Corridor multi transportation project receives $450 million.

Under the same master facility agreement, the Accra Metropolitan Area will also see a traffic management project with an amount of $200 million and the Accra Plains Irrigation project takes $100 million.

Parliament is also set to adopt a report of the joint Committee on Finance and Works and Housing on a credit agreement between the  government and Raiffeisen Bank International AG of Vienna, Austria for an amount of 8.8 million Euros for the execution of a first phase water supply scheme for the Adaklu Anyigbe and North Tongu districts and the Ho Municipality.

By Eunice Menka

Leave A Reply

Your email address will not be published.