Gov’t to submit first two international loan agreements to Parliament next week
Government will next week submit its first two international loan agreements to Parliament for approval, President John Dramani Mahama has disclosed, since assuming office.
President Mahama announced this during the inauguration of the Akatsi North District Police Headquarters at Ave Dakpa, as part of his Resetting Ghana tour of the Volta Region.
He said the first facility is a US$300 million World Bank loan that will help eliminate the double-track system in senior high schools. “The first is a 300-million-dollar World Bank facility that will help us eliminate the double-track system in senior high schools,” he said.
He said the programme would fund the construction of 16 brand-new senior high schools, while also expanding infrastructure in about 150 existing schools through additional classrooms, hostels and dining facilities.
“Through this programme, we will construct 16 brand-new senior high schools while also expanding infrastructure in about 150 existing schools through additional classrooms, hostels and dining facilities,” he noted, adding that the objective was to ensure that by 2027, every senior high school student could attend school under a single-track academic calendar.
President Mahama said the second facility is a US$500 million World Bank loan dedicated to rural roads. He explained that while the Big Push Programme concentrated on major trunk roads, government also recognised the importance of improving feeder and rural roads that connect communities.
“While the Big Push Programme concentrates on major trunk roads, we also recognise the importance of improving feeder and rural roads that connect communities,” he stated.
He disclosed that under this programme, the Nkope Junction to Kove Road in Akatsi North had been included for rehabilitation. He said government would continue allocating resources every year so that communities whose roads had not yet been captured would also benefit in future phases.
“If your road has not been included this year, it does not mean it has been forgotten. It may be captured next year or in subsequent years as the programme expands,” he said.
President Mahama noted that since assuming office, government had not presented any international loan agreement to Parliament, meaning that the Big Push Programme, health infrastructure, stadium projects and other ongoing developments had all been financed with resources generated by Ghanaian taxpayers.
He said the two facilities to be submitted next week would mark the first time his administration sought parliamentary approval for external borrowing.
Richard Aniagyei, ISD
