The Finance Ministry has presented to Parliament a request by government for a $28 million loan from the National Investment Bank.

The loan, according to the Ministry, is to finance the purchase of 275 vehicles for the members of the eighth Parliament.

Laying the request on the Floor, Deputy Finance Minister, Abena Osei Asare, said the loan agreement is between the government, represented by the Finance, Ministry members of the 8th Parliament and the National Investment Bank Limited.

The medium-term loan, expected to be disbursed to MPs, is to be paid back by the members in the course of the four-year duration stay as MPs. 

“The medium-term loan agreement among government, represented by the Ministry of Finance, members of the 8th Parliament 2021 to 2024 and the National Investment Bank Limited [is] for an amount of $28 million, to finance the purchase of vehicles for members of the 8th Parliament,” Madam Abena said.

The First Deputy Speaker of Parliament, Joseph Osei Owusu, at the sitting referred the request to the Finance Committee.

Meanwhile, the Minister also laid in Parliament a similar request for a $3.5 million car loan for members of the 8th Council of State for them to purchase vehicles.