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Dafeamekpor releases an alleged list of projects under the $750m Afreximbank loan facility

Rockson Nelson Dafeamekpor Member of Parliament for South Deyi, Rockson-Nelson Dafeamekpor

Tue, 30 Aug 2022 Source: www.ghanaweb.com

The Member of Parliament (MP) for South Deyi, Rockson-Nelson Dafeamekpor, has released a list of projects that the $750 million Afreximbank loan facility is allegedly supposed to be used for.

The MP's release comes after the Deputy Finance Minister, John Kumah, explained that the $37 million that has been reported as a discrepancy in the $750 million loan is an amount that has been set aside for debt servicing obligations.

“The Government has received fully the total amount of USD750.0 million today, Monday, August 29th, 2022, from Afrexim as was approved by Parliament. Government also, as part of the transaction, has created an Escrow Account for debt service for the facility.

“This arrangement is not new as the Ministry of Finance has from time to time created specialised Escrow accounts for specific purposes. In this particular transaction, an amount of USD37.0 million from the facility has been set aside for debt service obligations. All the documentation relating to this arrangement was supplied to and was approved by Parliament,” Kumah explained in a post he shared on Facebook.

But, Dafeamekpor has rejected John Kumah’s explanation, saying that the agreement approved by Parliament did not include $37 million for debt services.

A list the MP released purporting to show the breakdown of projects under the Afreximbank loan facility showed roads including the Ofankor-Nsawam Road and Ejisu-Konongo Road, which added up to the $750 million, excluding the $37 million John Kumah said had been set aside for debt servicing.

“When NPP brought the $750m loan to Parliament, they claimed it was for 2022 Budget Support, so we demanded for a breakdown. They then produced the below table detailing how exactly the loan will be used. So how come a whopping $37m is supposedly set aside for debt repayment?” parts of a tweet shared by Dafeamekpor read.

View the MP’s tweet plus the breakdown of the $750 million Afreximbank loan facility



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Source: www.ghanaweb.com
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