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15.07.2002 General News

NPP youth commends govt for sourcing funding

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THE Youth Wing of the New Patriotic Party (NPP) has congratulated the Kufuor administration for its untiring efforts to attract capital into the country. In a statement signed by Mr Kwame Twumasi-Awuah , acting National Youth Chairman , it described the government's foreign policy which has started yielding dividend as excellent.

It said, Ghana under the leadership of President Kufuor has won the heart and confidence of the international community and no wonder Ghana is now mecca for foreign dignitaries.

According to the statement, it is the brilliant performance of the government that has made it possible for the government to attract $1 billion from the International Financial Consortium (IFC) to undertake rural development projects which will help create employment and check the rural-urban drift. The loan, the statement said, will also accelerate economic development and raise the living standards of the people.

“ What has to be considered in respect of the loan facility is the interest rate and the repayment schedule which in this case are very favourable,” it said, adding that “ it will , therefore be naive on our part to let this opportunity slip and engage in frivolous intellectual exercise which will be against the interest of the people,”.

The statement said the ability of the government to contract $1billion has proved the National Democratic Congress (NDC) wrong because the party contended at the time Ghana accepted the HIPC initiative that financial assistance in terms of loans to be accessed by the government.

“ We, therefore, appeal to the NDC as the leading opposition party to tell the people the truth always no matter what, and desist from fabrication of stories which does not help the development of the country,” the statement said.

It appealed to the government to fast track the process to secure the loan for the rapid development of the country.

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