House approves credit facility for Sunyani water project

Backpage, Oct 29, 2008
Story: Emmanuel Adu-Gyamerah
PARLIAMENT yesterday gave approval for a mixed credit facility of $92,436,000.00 to be secured for the implementation of the Sunyani Water Supply Rehabilitation and Expansion Project.
The amount is being sourced by the government from the Guandong Development Bank of China and BHP Paribas.
The mixed credit facility consists of a grant of $30 million from the Guandong Development Bank and a $62,436,000.00 loan from the PHB Paribas.
The project, which is to benefit 341,871 people, is expected to be completed within 36 months.
According to the report of the Finance Committee of Parliament, the project will increase water supply to the Sunyani municipality and its environs.
In a related development, the House also approved a 19 million euro loan facility agreement between the government and Kreditanstalt Fur Wiederaufbau (KfW) for Multi Donor Budget Support (MDBS).
In 2003, the government and her development partners signed a framework agreement for the MDBS to support the implementation of the Growth and Poverty Reduction Strategy II (GPRS II).
The loan is, therefore, the contribution of the German government through the KfW to support the implementation of the GPRS II.
The House also gave approval for the waiver of tax liabilities totalling GH¢5,149,208.48 on equipment/materials to be imported or purchased locally in respect of the implementation of the first phase of the National Communication Backbone Network Project.
The report of the Finance Committee on a $122 million loan agreement between the government and the GK Airport Company of Ghana for the rehabilitation of the Kumasi, Takoradi and the Sunyani airports were also laid before the House for consideration.