US$58m loan for National Affordable Housing Programme laid before parliament

Government has tabled a $56.8 million loan agreement to finance the implementation of the National Affordable Housing Programme and the Revised Redevelopment Scheme before Parliament.

The move comes on the back of a contract agreement signed between the Government of Ghana and Douja Promotion Groupe Addoha.

Dubbed as the EPC/Turnkey contract agreement, Joseph Osei-Owusu, the First Deputy Speaker who presided over Tuesday’s proceedings referred the loan agreement to the Works and Housing Committee and reported to the House.

During the proceedings, the Finance Committee report on the Financing Agreement between the Government of Ghana and the International Fund for Agricultural Development (IFAD) for the amount of $52.50 million was also laid before House.

The agreement is made up Blended Loan amounting to $35.17 million and Highly Concessional Loan of $17.32 to finance the Promoting Rural Opportunities, Sustainable Profits and Environmental Resilience also known as the ‘PROSPER’ project.

The Finance Committee of Parliament further tabled its report for the waiver of Domestic Value Added Tax amounting to $1.86 million on materials and works/services procured by Messrs Canadian Commercial Corporation for the implementation of the 132MW Installed Capacity T3 Power Project.

The two aforementioned reports were distributed to Members of the House at the direction of the First Deputy Speaker, Joseph Osei-Owusu.

Meanwhile, members of the Minority caucus boycotted the proceedings as they had to accompany Member of Parliament for Assin North, James Gyakye Quayson who in Court is on trial for a case brought against him.

The House adjourned sitting to Wednesday, July 19, 2023.

MA/NOQ

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