{"id":443961,"date":"2017-12-05T17:21:59","date_gmt":"2017-12-05T17:21:59","guid":{"rendered":"https:\/\/ghana-mma.com\/2017\/12\/05\/parliament-questions-gwcls-us25-3m-loan\/"},"modified":"2017-12-05T17:21:59","modified_gmt":"2017-12-05T17:21:59","slug":"parliament-questions-gwcls-us25-3m-loan","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2017\/12\/05\/parliament-questions-gwcls-us25-3m-loan\/","title":{"rendered":"Parliament questions GWCL\u2019s US$25.3m loan"},"content":{"rendered":"<p><\/p>\n<div id=\"medsection1\">\n<!-- End of html generated by this->header() --><\/p>\n<p class=\"floatLeft\">Business News of Tuesday,  5 December 2017<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Graphic.com.gh <\/p>\n<p>2017-12-05<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/11\/49154405.295.jpg\" alt=\"Parliament Ghana W\" title=\"Parliament Ghana W\" width=\"295\" height=\"165\" \/><span class=\"image_caption\"><span>Parliament of Ghana<\/span><\/span><\/p>\n<div class=\"noPrint\">\n<div id=\"537626303\" style=\"width:300;height:250;margin:0;padding:0\">\n<p>\t\t  <noscript><iframe loading=\"lazy\" id=\"b2ad7fa7fd\" name=\"b2ad7fa7fd\" src=\"http:\/\/ghanaweb-d.openx.net\/w\/1.0\/afr?auid=537626303&amp;cb=151125813973067\" frameborder=\"0\" scrolling=\"no\" width=\"300\" height=\"250\"><a href=\"\/\/ghanaweb-d.openx.net\/w\/1.0\/rc?cs=b2ad7fa7fd&amp;cb=151125813973067\"><\/p>\n<p>\t\t  <img decoding=\"async\" src=\"https:\/\/ghanamma.com\/wp-content\/uploads\/2017\/12\/1512494519_530_ai\" border=\"0\" alt=\"\" \/><\/a><\/iframe><\/noscript><\/p><\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"clear:right\"> Parliaments Joint Committee on Finance and Works and Housing has raised concerns over the ability of the Ghana Water Company Limited to service the US$ 25.34 million loan which the government intends to on-lend to it to finance the Navrongo Water supply Project.<\/p>\n<p>This is due to the operational and financial challenges that have confronted the GWCL over the last couple of years.<\/p>\n<p>Government intends to secure a loan amount of US$ 25.34 million from the ING Bank of Belgium, which it plans to on-lend to the GWCL as a loan component to finance the US$ 37.68 million Navrongo Water Supply Project.<\/p>\n<p>But the Committee is not convinced about the capacity the national water company to repay the debt.<\/p>\n<p>As a result, it has directed the Ministry of Sanitation and Water Resources (MSWR) to ensure that the GWCL runs efficiently to be able to service the loan.<\/p>\n<p>Deputy Minister of Finance, Ms Abena OSei Asare, when she appeared before the committee said the Ministry would engage the MSWR to do the relevant assessment before the on-lending.<\/p>\n<p>She assured the committee that the final agreement would come back to Parliament for approval.<\/p>\n<p>She said the government\u2019s decision to on-lend loan facilities to agencies was to ensure that these agencies run efficiently to be able to borrow on their own balance sheets.<\/p>\n<p>Read also: BoG cracks whip on high NPLs &#8211; Demands answers from banks<\/p>\n<p><b>Terms and conditions<\/b><\/p>\n<p>The loan facility comes with an interest rate of 1.95 per cent per annum, plus six months Eurobor, and a commitment fee of 0.80 per cent per annum on the projected facility for the availability period.<\/p>\n<p>It also comes with a management fee of 0.85 per cent which would be paid up front, a three year grace period and a repayment period of ten years.<\/p>\n<p>Project objectives<\/p>\n<p>To address the water supply challenges of Bolgatanga, Navrongo Bongo, Paga and its surrounding communities, there was the need to commence the water project which seeks to provide a new raw water source and a new treatment plant.<\/p>\n<p>The main objective of the project is to produce and supply portable water to adequately cater for these communities up to the year 2030.<\/p>\n<p>It is expected to culminate in the provision of essential basic water supply infrastructure and also improve the health of the inhabitants in the area.<\/p>\n<p>It will also serve as an economic stimulus for existing companies and industries and new companies as well as improve the standard of living of women and children in the region.<\/p>\n<p>This will also lead to a reduction in the prevalence of common water-borne diseases as well as reduce the stress of having to trek long distances in search of water.<\/p>\n<p>The project is also expected to reduce the pressure on health facilities in the region as a result of a reduction in water-related diseases.<\/p>\n<p><!-- uploaded by: 50 updated by: 50 --><\/p>\n<p><!-- Start of html generated by this->footer() -->\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Tuesday, 5 December 2017 Source: Graphic.com.gh 2017-12-05 Parliament of Ghana Parliaments Joint Committee on Finance and Works and Housing has raised concerns over the ability of the Ghana Water Company Limited to service the US$ 25.34 million loan which the government intends to on-lend to it to finance the Navrongo Water supply [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":436648,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-443961","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Parliament questions GWCL\u2019s US$25.3m loan - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2017\/12\/05\/parliament-questions-gwcls-us25-3m-loan\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" 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