25.08.2011 General News

Government widthraws controversial $3bn loan from Parliament

By myjoyonline
Government widthraws controversial 3bn loan from Parliament
25.08.2011 LISTEN

The Government has withdrawn from parliament the $3bn China Development Bank facility intended to fund several projects in Ghana.

Joy News' parliamentary correspondent, Sammy Darko says no official explanation yet has been given for the withdrawal of the facility that saw parliament recalled from recess to consider and approve.

The loan consideration has seen the house in a divided front, with nearly all on the Minority side opposed to the deal for alleged lack of transparency, while the Majority are all for its approval.

Government spokespersons have pointed to a myriad of infrastructural gaps the facility will help cure, however opponents have argued that the facility documentation leaves too many questions needing answers.

Rashid Pelpuo, Deputy Majority Leader and MP for Wa Central, has told Radio Gold that the withdrawal was to afford the Majority adequate preparation and information to "beef up the quality of the presentation that is before parliament so that in the course of the debate we would be able to convince you all that we are on the right path to making Ghana a better Ghana."

Story by Isaac Yeboah/