Posted: Sunday 16th March 2014 at 13:00 pm

Ghana Still Chasing After $3bn CDB Loan Remainder

The Government of Ghana has sent a delegation to China to continue with negotiations for the release of some funds under the 3 billion China Development Bank (CDB) loan facility.

The team left on Saturday evening.

President John Dramani Mahama, who disclosed the news when he addressed the Western Regional House of Chiefs during his working visit to the area, said the delegation will also negotiate the signing of some four subsidiary agreements.

“I have a delegation leaving later tonight (Satuday) to China to discuss with CDB,…of the four subsidiary agreement that we currently have there,” President Mahama has said.

This comes after an appeal by President John Mahama for the Chinese government to expedite action on the release of $3 billion CDB loan to support infrastructural development.

Ghana has received about $600 million from the $3 billion loan facility. The country continues to pay commitment fees on the whole sum even though the remainder has stalled for about three years..

Some funds generated from the loan facility will be used in the construction of three landing beaches in the region, the president added.

Comments

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

+