Parliament considers two Loan Agreements for water and sanitation project


The Speaker of Parliament, Professor Michael Oquaye, has charged the Committees on Finance, Water Resources, Works and House, to consider two loan agreements between Ghana and two foreign banks.

The loans, which will be spent on water and sanitation project, were laid on the floor of Parliament by the Majority Leader, Hon. Osei Kyei-Mensah-Bonsu, on behalf of the Minister for Finance, who was not present in the House.

The Credendo-Backed Export Credit Facility Agreement between the government of Ghana and the ING Bank of Belgium for an amount of 25,341,958.00 Euros is one of the agreements. This is a loan component of the total project cost of 37,683,266.00 Euros, which will be used to finance the Navrongo Water Supply Project.

The other is the Financing Agreement between the government of Ghana and the International Development Association (The Word Bank Group) for an amount of 45.7 million US Dollars. This is an additional financing for the Sustainable Rural Water and Sanitation Project.

The Joint Committee is expected to consider the agreements, and report back to the House for approval or otherwise.


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