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04.11.2004 General News

Parliament approves loan for LAP

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Accra, Nov 4, GNA- Members of Parliament on Thursday voted unanimously to approve seven million euros loan agreement between Ghana and the Nordic Development Fund (NDF) to finance the Land Administration Project (LAP).

The loan is to be repaid by Ghana government within thirty years with 10 years grace period.

It is an interest-free facility with a 72 per cent grant element. The project seeks to harmonise land policy and regulatory framework for sustainable land administration.

It also seeks to make institutional reforms for comprehensive capacity building and establish an efficient, fair and transparent system of land administration among others.

The House had earlier approved a Ghana government guarantee for a buyer credit agreement of 5.9 million euros for the purchase of two tugboats by the Ghana Ports and Harbour Authority (GHAPOHA).

The agreement is between GHAPOHA and the Cooperative Centrale Raifeisen-Boerenleenbank Ba of Netherlands.

In another development, the House approved a request for waiving of tax and other charges amounting to 44.5 billion cedis in respect of procurement of election related materials and services for the 2004 Presidential and Parliamentary Elections

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