
Audio By Carbonatix
The Chairman of Parliament's Finance Committee, James Averji has confirmed that the China Development Bank would from next month resume disbursement of the 3 billion dollar loan to Ghana.Parliament earlier this month made some amendments to the loan-agreement. This was upon the request of the Chinese Bank as a condition to resume the disbursement.Mr. Averji tells JOYBUSINESS, government now expects the funds to start coming in for designated projects.“Once we have approved it and parliament communicated it to the Finance Minister, we think the CDB would have no issues anymore. There are disbursements they should have released so now that the problems are solved what are they waiting for, they should go ahead and disburse” he said.Mr. Averji however maintains the facility would be disbursed as and when the various phases of the projects are completed.
“This is a project loan and so no Chinese bank would disburse the money directly into Ghana’s consolidated fund. There are 12 different projects that are funded by the loan of which two are currently running. The issue is that whenever the contractor of a project submits the project certificate to the CDB, the funds are paid directly to the contractor and not the government ” he explained.The country has so far been able to draw a little over 200 million dollars since it signed the agreement with the Chinese government in 2011. Government has since last year being expecting about 750 million dollars of the facility for the construction of the Gas Processing plant in the Western Region.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Fire damages three rooms in Sokabisi compound house; seven others saved
10 minutes -
Drowning deaths soar in France as Europe buckles in peak of heatwave
16 minutes -
Galamsey is no longer hidden: Where is the enforcement?
17 minutes -
One dead in crash on Kpong–Tema Highway
18 minutes -
Gov’t engages chiefs to control gun use at cultural and outdooring events
21 minutes -
Adwoa Safo’s brother, eight others granted GH¢500,000 bail over Kwabenya shooting incident
25 minutes -
NPP coordinators petition NEC, demand evidence from Ken Agyapong or disciplinary action
50 minutes -
Transport fares doubled on Juaboso–Dadieso road after River Sui flooded
53 minutes -
Ministry of Education cautions final- year against vandalism of school property after WASSCE
1 hour -
GRA urges businesses to comply with tax laws to boost revenue mobilisation
1 hour -
ITALKOL marks 10 years in Ghana, highlights push to raise construction standards
1 hour -
Floods kill 18 in Central Region as NADMO orders evacuation of unsafe buildings
1 hour -
GRA outlines taxpayer rights and obligations under Revenue Administration Act
1 hour -
Private Security Organisations are not permitted to use firearms – Interior Minister
1 hour -
DACF: AG justifies payment of public funds into personal accounts of MPs
1 hour