Government has laid before parliament request for approval for two separate loan agreements to purchase armoured vehicles from Israel.

The Monitoring and Evaluation Minister Dr Anthony Akoto Osei on Monday laid the loan agreements in parliament for approval on behalf of the Finance Minister.

The first is a loan agreement between the government of the Republic of Ghana represented by the Ministry of Finance and Israel Discount Bank for an amount of $74.1 million to finance the supply of the armoured vehicles.

Also laid before the house is a separate commercial loan agreement from the same bank for an amount of $12 million for the supply of the armoured vehicles.

Both agreements were referred to the Finance Committee by the speaker for consideration and report.

Defence Minister Dominic Nitiwul separately laid before parliament for approval a contract agreement with Elbit Systems Land Limited of Israel for the supply of the armoured vehicles at a cost of $80 million.

The agreement was referred to the Defence and Interior Committee for consideration and report.

The rest of the $6 million is expected to go into related expenses that will be incurred in the processes to secure the loan.

Elbit Systems Ltd. is an Israel-based international defence electronics company engaged in a wide range of programs throughout the world.

The company, which includes Elbit Systems and its subsidiaries, operates in the areas of aerospace, land and naval systems, command, control, communications, computers, intelligence surveillance and reconnaissance.

The company also focuses on the upgrading of existing military platforms, developing new technologies for defence, homeland security and commercial aviation applications and providing a range of support services, including training and simulation systems.

In 2016, Elbit Systems had approximately 13,895 employees, the majority of whom are engaged in engineering, mechanics, research and development, and other computing and technical areas.