The Vice-President of the China Development Bank (CDB), Mr Huan Li, has given an assurance that the CDB is committed to releasing the entire $3 billion CDB loan to Ghana. He commended Ghana for putting in place the necessary framework for the implementation of projects under the loan facility. Mr Li gave the assurance when he paid a farewell call on the Vice-President, Mr John Dramani Mahama, at the Golden Jubilee Lounge in Accra Monday. The CDB Vice-President, who was in Ghana for a week’s working visit as part of his African tour, had held meetings with members of the government task force on the CDB loan facility, officials of the Ministry of Finance and Economic Planning and CDB officials. The discussions centred on the need for Ghana to open an account in Hong Kong for the release of the first tranche of $1 billion for the two subsidiary agreements on oil and gas and Information and Communications Technology (ICT). The meetings also emphasised the need for the speedy implementation of the projects under the CDB, including the rehabilitation of the Western railway, the expansion of the Takoradi Harbour, the construction of landing sites and the Accra Plains Irrigation Project. Ghana and the CDB signed the framework agreement for the $3 billion loan facility in September 2010 when President John Evans Atta Mills visited China. And early this year, Vice-President Mahama visited China, during which Ghana and the CDB signed two subsidiary agreements in Beijing for the release of $1 billion of the $3 billion loan facility to the country. The signing of the agreements paved the way for the disbursement of $850 million for the gas infrastructure development project in the Western Region and $150 million for the development of an ICT platform for surveillance of the oil and gas field. Mr Li said he was impressed with the deliberations held with the task force and officials of the Ministry of Finance. He said the CDB would continue to work with Ghana to ensure the smooth implementation of the projects. He commended Ghana for making progress on the economic front and reiterated the commitment of the bank to collaborate with the country to propel Ghana’s socioeconomic development. Responding, Mr Mahama said the implementation of the projects was delayed because Ghana's legal regime required Parliament to approve all the agreements under the facility. Fortunately, he said, Parliament had approved all the 12 subsidiary agreements under the $3 billion CDB loan. He said all the projects under the CDB loan facility were crucial to the government, since they concerned the development of infrastructure and the general well-being of Ghanaians. He said the rehabilitation of the railway lines, the expansion of ports, the construction of landing sites and the remodeling of the Volta Lake would propel Ghana’s economic growth and create jobs for the youth.