Parliament approves loan agreement

Page 12, Nov 13, 2010
Story: Emmanuel Adu-Gyamerah

PARLIAMENT last Thursday approved a 55 million euro financial agreement between the government and the Kredistanstal Fur Wiederaufbau (KfW) of Germany to be used as part of the Multi-Donor Budget Support (MDBS) for 2010-2012.
The loan was also accompanied by 500,000 euros grant to strengthen the Ghana Audit Service.
The MDBS is a joint support mechanism of 11 development partners and the government of Ghana, which is based on the contributions of financial resources by development partners directly to the government’s treasury to complement the country’s domestically generated revenue.
The contribution of the MDBS is to help facilitate the implementation of the country’s development and poverty reduction policies.
Under the programme, all decision concerning the allocation and utilisation of the funds are to be in line with government’s own long-term perspective plans.
A Deputy Minister for Finance and Economic Planning, Mr Seth Tekpeh, moved the motion for the approval of the agreement and he was seconded by the Finance Committee of Parliament, Mr James Klutse Avedzi.
In a related development, the House also approved a 7,980 million euros between the government and Austria for the construction and equipping of five polyclinics in the Upper West Region.
The loan would also be used to provide training of medical staff and other medical technicians/engineers of the Ghana health Service/ the Ministry of Health.
Under the facility, five polyclinics would be constructed and equipped at Babile/Birifo, Funsi, Ko, Lambussie and Wechiau.
It is hoped that the project would help enhance physical access in the Upper West Region, which is one of the most deprived in the country.