Parliament approved a loan of $750 million after the motion was delivered to Parliament by the chairman of the finance committee, Kwaku Kwarteng for approval.
Mr. Kwaku Kwarteng noted that the loan will help the government raise funds for the infrastructural projects that were included in the 2022 budget.
“Mr. Speaker having carefully examined the agreement which forms part of the government’s program aimed at raising funds for infrastructural projects in the 2022 budget, I will accordingly urge this House to approve this facility so that Ghanaians may reap the benefits of the facility will bring.”
Though there is hardship in Ghana, they stated categorically that the $750 million would be used for the following purposes.
Sofoline interchange, Suame Roads, All African Games infrastructure, Flower pot interchange.
During the IMF meeting with the government, they stated that one of the causes of economic activity is borrowing which Ghana thinks should be avoided but a chairman of the finance committee set the loan will go a long way to benefit the Citizens of the country.
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