Parliament approves 7 loan agreements totaling $710m

May 2nd 2023, 7:20:13 pm

Parliament has approved seven loans including a $200m loan facility from the World Bank.

Parliament of Ghana

The $200 million is expected to finance the Ghana Digital Acceleration Project.

The rest of the facilities are a US$60.6 million as a third additional financing for the Ghana Covid-19 Emergency Preparedness and Response Project, US$150 million to finance the West Africa Food Systems Resilience Programme, and €EU170 million for the establishment of the Development Bank of Ghana.

The rest are a US$30 million facility to finance the Medical Equipment Provision Project in response to Covid-19, US$150 million to finance Primary Healthcare Investment Project, and US$150 million to finance Public Financial Management for Service Delivery Programme.


The legislators were summoned from the Easter break purposely to approve these loan facilities.

Meanwhile, Ghana and Japan have signed two memorandums of understanding (MoUs) focused on enhancing rice seed production capacity and human resource development scholarship.

These agreements represent an important step forward in the economic partnership between the two countries, as they seek to leverage their respective strengths to create mutually beneficial outcomes.

Speaking to the press following the bilateral talks, President Nana Addo Dankwa Akufo-Addo highlighted the importance of collaboration between Ghana and Japan in addressing a range of global challenges, including poverty, migration, terrorism, and climate change. The president emphasized that Ghana will continue to work closely with Japan to promote peace and security, both within the region and around the world.


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