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COVID-19 National Trust Fund: GH¢52.5 million disbursed for various initiatives

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Thu, 29 Jul 2021 Source: www.ghanaweb.com

• Government says it has disbursed GH¢52.5m out of GH¢57.15m received as cash donations to the COVID-19 National Trust Fund

• The funds, according to the finance minister, were received between April 2020 to March 2021

• Government said the cash donations went towards key initiatives and the procurement of COVID-19 related items


Finance Minister, Ken Ofori-Atta has disclosed that an amount of GH¢57.15 million in cash donations were received by the COVID-19 National Trust Fund.

Out of the amount, GH¢52.5 million, as June 30 2021, had been disbursed for various government initiatives and the procurement of items as at June 30, 2021.

Ken Ofori-Atta making the disclosure before Parliament at this year's 2021 mid-year budget review, said the donations were made between the period of April 2020 and March 2021.

“Mr. Speaker, the COVID-19 National Trust Fund was set up under Act 1013 to receive and manage contributions and donations from well-meaning individuals, groups and corporate bodies.

“As at 30th June, 2021 the COVID-19 National Trust Fund had received a total amount of GH¢57.15 million in cash donations. These donations were made between the period April 2020 and March 2021. As at 30th June 2021, the Fund had disbursed an amount of GH¢52,501,540.44, for various programmes as well as procurement of items.”

Meanwhile, government has disclosed it will not be seeking additional funding and a supplementary budget for the next half of the 2021 financial year.

The move, according to the finance minister, is intended to contain the country's rising debt stock as well as avoiding fiscal revenue slippages.

The presentation of the mid-year budget by the finance minister is in accordance with Article 179 of the 1992 Constitution and the Public Financial Management Act 921, which offers the opportunity to revise macroeconomic targets and provide a comprehensive economic outlook for the rest of the year.

Source: www.ghanaweb.com
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