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The government says the $3 billion Chinese loan facility being secured by the government will help boost infrastructural development in the country.
According to government, some Millennium Development Goals will be missed if the infrastructures in the country are not developed, hence the need to secure the Chinese loan facility.
Policy think tank, Danquah Institute (DI) has raised the alarm over what it describes as the "strange and dangerous” manner in which the Mills-Mahama led National Democratic Congress government is trying to secure the $3bn Chinese loan facility to finance a number of projects, including the Achimota-Ofankor road, a $150 communications infrastructure for the National Security Council and a $100 million capacity building exercise for the Ghanaian SMEs.
In the view of DI, “this $3 billion omnibus loan facility is a very strange one which, in a very dangerous way, takes away the constitutional power of the legislature to scrutinise financial agreements presented to it for approval.”
Asare Ochere-Darko, Executive Director of Danquah Institute which raised concerns over the decision by government to go for the facility, maintained that Ghana will pay about $4 billion interest on the loan.
But Deputy Minister of Information, Samuel Okudzeto Ablakwa stated on Asempa FM’s Ekosii Sen programme on Monday that the loan will be used to finance many ongoing road projects and help construct several other ones.
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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.
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