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22.08.2011 Politics

$3 billion Chinese loan facility to divide Parliament

By myjoyonline
$3 billion Chinese loan facility to divide Parliament
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A three billion dollar Chinese loan agreement which necessitated the recall of MPs from recess is set to sharply divide the House.

Members of Parliament have been recalled from recess to approve the facility but those on the joint Finance and Poverty Reduction Committee are sharply split along partisan lines, Joy News' Parliamentary Correspondent Sammy Darko has learnt.

The Committee is yet to conclude deliberations on the matter and has deferred to Tuesday to present its report on the floor of the house.

But even before the Committee presents its report, Sammy Darko says he has picked up information the minority is displeased with the terms of the loan agreement.

He expects a counter report from the minority side of the Committee on Tuesday.

Meanwhile, a deputy Information Minister, Samuel Okudzeto Ablakwa insists the loan agreement is in the best interest of the country.

According to him, government for over a year has subjected the loan agreement to a thorough scrutiny and is convinced the nation stands to benefit a lot if it is approved.

The Danquah Institute, a think tank, has also kicked against the terms of the agreement.

But the deputy Information Minister said given the projects the loan will execute, it will in the long term serve beneficial purposes for the country.

“This $3 billion facility is going into the Western Corridor gas infrastructure project, the Western Corridor petroleum terminal project; the Western Corridor oil enclave toll road project; the Western Corridor railway line modernization project…” he chronicled.

It is not a strange facility; he explained, adding that due diligence has been completed on the facility.

Story by Nathan Gadugah/