$750m Afrexim Loan: Stop Making Deceptive Claims – Bortianor MP Cautions Ato Forson | Politics

Dr. Cassiel Ato Forson, Member of Parliament (MP) for Ajumako-Enyan-Esiam and Minority Ranking Member on the Parliamentary Finance Committee recently questioned how a $750 million loan from Afrexim Bank will turn to $713 million.

He wants the Finance Ministry to explain the whereabout of the remaining $37m.

Deputy Finance Minister, John Kumah in reaction stated that the $37m has been set aside for debt servicing.

“This arrangement is not new as the Ministry of Finance has from time to time created specialized Escrow accounts for specific purposes. In this particular transaction, an amount of USD37 million from the facility has been set aside for debt service obligations. All the documentation relating to this arrangement were supplied to and was approved by Parliament,” he stated.

Member of Parliament (MP) for Bortianor-Ngleshie-Amanfrom, Sylvester Tetteh contributing to a panel discussion on Peace FM‘s morning show ‘Kokrokoo‘ urged the Minority specifically, Ato Forson to avoid making deceptive claims.

“Such comments can be deceptive, how can you say that 37 is missing? It is not true but thankfully the Finance Ministry has set the records straight”.

But…

Sly Tetteh, has, however bemoaned the fact that the $37m set aside by government will make some of the projects the loan is targetting suffer.

Listen to him in the video below

About $750 Afrexim Loan

The loan was disbursed in three tranches; US$187 million, 193m Euros, and US$332 million.  Government is expected to enjoy a 3-year grace period or moratorium for the facility.

Parliament approved the $750 million loan agreement for funding infrastructure projects and budget support.

Below is government’s plan for AFRIXEM loan

 1 Ofankor -Nsawam Road Project

2 Ejisu- Konongo Road Project

3 Completion of Nsawam Apedwa Road Project

4 Suame Interchange and Local Road Network Project

5 Completion of Flower Pot Interchange, East Legon, Accra

6 Completion of Sofoline Interchange Project

7 Construction of Kwabenya – Peduase Road project – GoG Counterpart Funding

8 Completion of Eastern Corridor Lot 5 and 6

9 Construction of Enkyikrom – Adawso Road Project

10 Sports Projects -Construction of Stadia and Sports Infrastructure for the All-African Games 2023

11 Railway Projects- Purchase of Rolling Stock and Spare Parts

12 Agenda 111 – Partial Funding

13 Construction of 37 Hospital Project – GOG Counterpart Funding

14 Purchase of 112 Ambulances – GOG Counterpart Funding

15 Energy Projects – Transmission, Power Outage Reduction and Network Improvement Project

Source: Peacefmonline.com

Featured Video