Government is seeking parliamentary approval to amend the master facility of the three billion loan between Ghana and China Development Bank. Joy News’ parliamentary correspondent Elton John Brobbey reports that a paper to that effect has been placed before the house on Thursday which details are not yet public. However, a confidential document from the Office of the President in possession of Joy News signed by the Secretary to Cabinet Alhaji Adam Sadiq stated that the amendment has been necessitated by the operational challenges the Ministry of Finance is experiencing in implementing the loan under the original term of agreement. A specific note, according Elton, was made in relation to the amount of debt service that the Government of Ghana was required to transfer into the collection account. The amendment is expected to minimize government’s obligation with regard to the money that would be transferred into the collection account. It would be recalled that under the previous five party agreement, Bank of Ghana was required to transfer 70% of the commercial invoice value of each crude oil lifting into the collection account and then established a letter of credit in the same amount to Bank of Ghana as surety for the transfer amount. The approval will enable the government of Ghana to be required to transfer a defined amount into the collection account after each lifting. It will also establish the letter of credit to cover the same amount, which will be limited to the government of Ghana debt service obligation in each interest period adjusted by the number of crude oil lifting in the same interest.