Chinese Development Bank to resume disbursement of $3b loan next month

The China Development Bank should, from next month, resume disbursement of the 3 billion dollar loan facility to Ghana.

This is because Parliament has made some changes to the agreement covering the loan. A source close to the deal has told Joy Business the funds should be coming in the next few weeks.

The CDB was pushing for amendments to enable it resume the payments.

The source adds that the 3 billion dollar facility would be disbursed over a three to five year period.

The country has far been able to draw a little over 200 million dollars since it signed the agreement with the Chinese government in 2011.

Government was expecting about 750 million dollars last year to fund the construction of a plant in the Western Region to process gas from the Jubilee field.