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No strings attached to loan offered by China - Bawumia
Dr Mahamudu Bawumia said the government reached an agreement with the Chinese government for the mutual benefit of both countries.
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This according to the Vice President Dr Mahamudu Bawumia.
He was speaking at a press conference after arriving from a four-day official visit to China.
READ ALSO: China pumps $15bn into economy – Bawumia
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He said the government reached an agreement with the Chinese government for the mutual benefit of both countries.
However many Ghanaians are of the view that the loan assistance from China is to disrupt government’s fight against illegal mining which involves a lot of Chinese nationals in the country.
However, Dr Bawumia said the Chinese government is totally against galamsey.
“I’m not sure there is a string attached [to the loan]. This is why I said that we went with our own thinking in terms of how we want the financing model to be. Of course, for any partnership, we presented the case that whatever investment China makes in Ghana, it’s a good thing for them as it is for us. It’s a win-win situation,” he stated.
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“Nobody goes to invest in another country and say that they want to lose and the whole structuring of the financing model. It’s a joint venture structuring, so if the enterprise is good it will benefit everybody; it’s not one that we say there are the strings attached. “It’s a financing model. For example, the One- District-One-Factory, you don’t have to take that loan or that facility. Nobody will force you to go and take it, but if you think it will help you in setting up the factory, you go to the bank and arrange for that particular financing. But if you think you have a better financing arrangement, you go there. It’s not by force [the $2billion] is just providing you with alternatives. So for us, it’s a partnership, joint venture, that we are going to do in many aspects of the economy with China. So there are no strings attached.”
Meanwhile, the Chinese government has also agreed to release the remainder of the $3 billion China Development Bank (CDB) loan it withheld in the erstwhile Mahama administration.
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