Ghana Parliament to consider $250m syndicated loan facility

A syndicated loan facility of $250 million to finance capital and growth-related expenditures in the 2022 Budget will be presented to Parliament on Monday, July 25, Mr Alexander Kwamina Afenyo-Markin, Deputy Majority Leader, has said.

Presenting the Business Statement of the House for the week ending Thursday, July 28, Mr Afenyo-Markin said the syndicated term loan facility to be considered by the House, was between the between the Government of Ghana and the Joint Mandated Lead Arrangers and Bookrunnners (MLABs) [Rand Merchant Bank, a division of FirstRand Limited (London Limited).

The facility is part of the one-billion-dollar syndicated loan facility the Government is seeking to finance capital and growth-related expenditures in the 2022 Budget, of which $750 million has already been approved by the House on Wednesday, July 20.

However, during the approval of the $750 million, the Minority in Parliament, gave a clear indication that they would not be supporting the approval of the additional $250 million, because it was not captured in the 2022 Budget Statement and Economic Policy of the Government.

Mr Afenyo-Markin said in pursuant of the Financial Management Act, 2016 (Act 921), the Minister of Finance was expected to present the Mid-Year Review Budget Statement and Economic Policy and Supplementary Estimate of the Government of Ghana for the 2022 Financial to the House on Monday, 25th July.

The Deputy Majority Leader urged Members of the House to therefore take note of the date and avail themselves for the presentation.

He said debate on the Budget Motion had been scheduled for Tuesday, 26th July, and that leadership would conclude the debate with their own submissions on the Motion on Wednesday, 27th July.

He said on Thursday, 28th July, the day the House is expected to adjourn sine dine, sitting of the House would commence at 0900 hours prompt to enable the House to adjourn early.

Mr Afenyo-Markin said the Business Committee of the House was urging Committees with referrals to expeditiously work on same for consideration of the House.

“In this vein, the Committee is also urging the various Ministries, Departments and Agencies’ (MDAs) to present to Parliament any urgent Government business that would require the attention of the House before or during the adjournment sine die.”

He said in the ensuing week, four Ministers were expected to attend upon the House to respond to 28 questions.

Source: GNA

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