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Government Embarks On Credit Projects

By Daily Guide
John Akologu TiaJohn Akologu Tia
02.06.2011 LISTEN

THE MINISTER of Information, John Tia Akologu has disclosed a number of credit projects pursued by the government between April 20 and May 13, 2011 to make its better Ghana agenda a reality.

Addressing a press briefing in Accra Tuesday, he said the projects include a credit facility of $103,000,000 from Citi Bank of South Africa to finance the National Electrification Scheme in the Upper East region.

There is a $70 million agreement between the government of Ghana and the International Development Agency (IDA) to finance skills and technology development and a further $50 million to finance a second Land Administration Project.

According to him, government had signed a credit agreement with the Social Security and National Insurance Trust (SSNIT) for the construction of a 34-courtroom complex for the judicial service.

He stated that government had also signed a credit agreement with Trust Bank Ghana Limited to finance the supply of electrical cables and conductors for implementation of the Government of Ghana Self-Help Electrification Programme (GGSHEP).

The minister explained further that government had appended its signature to a $990 million loan agreement with the Industrial and Commercial Bank of China for the construction of the Accra-Tema, Accra-Nsawam and Accra -James Town Railway lines on standard gauge.

In addition, there was a credit agreement between government and Fidelity Bank Ghana Limited to finance acquisition of the Ex-German Naval Boats.

'In line with government's decision to get Ghanaians to patronize Made-in-Ghana goods, cabinet has decided that state institutions should adopt local cuisines or gastronomy at state functions,' he added.

He revealed that a directive to this effect had already been issued to all heads of government departments and agencies for compliance.

Cabinet has also given approval to the Marine Pollution Bill which will soon be laid before parliament for debate.

According to him, the Cinematograph Act 1967 (Act 76) which is being revised to provide the machinery for streamlining the film industry has been approved by cabinet for submission at parliament for consideration and passage into law.

Also approved is the restructuring of the Tema Oil Refinery (TOR) debt and the technical, operational and financial diagnostics of TOR.

He concluded that cabinet has also approved for submission to parliament, a proposal for a credit facility of $175 million from the World Bank to finance the Local Government Capacity Support Project (LGCSP).

By Portia Anaman
 
 
 

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