Gov’t secures US$24.5m to complete Job 600

A US$24.5 million credit agreement between Government and the Fidelity Bank Limited needed to complete the conversion of the State House (Job 600) into offices for Members of Parliament, was laid before Parliament on Tuesday.

Also laid was a Mixed Credit Facility Agreement between Ghana and the African Development Bank group for an amount of AU49.69 million (equivalent to US$76.52 million) comprising a loan amount of AU26.69 million (equivalent of US41.10) and a grant amount of AU23.00 million (equivalent to US35.42 million) to finance the Rural Enterprises Programme III (REP III).

Another paper laid was the Preferential Buyer Credit loan agreement between the Government of Ghana and the Export-Import Bank of China for an amount of US$123,409,273.10.

The amount would be used to finance the Ghana Dedicated Security Information system project (Phase II), request for waiver of customs duties, value added tax, national health insurance levy, ECOWAS levy, export development investment fund levy, destination inspection fees processing fees and withholding tax amounting to US$4,678,710.00 on goods and specific machinery, equipment and materials to be procured under the Rural Enterprise Programme III (REP III).

Additionally, there were requests for waiver of customs duties, Value Added Tax, National Health Insurance levy, ECOWAS levy, Export Development Investment fund, Destination Inspection fees, processing fees and withholding tax amounting to US$670,949.00 on goods and equipment required for the implementation of the Rural Enterprise Programme under the Financing Agreement between the Government of Ghana and the International Fund for Agriculture Development for an amount of SDR19,700,000, equivalent to US$31,500,000.00 The Value Added Tax bill, 2013, was read the second time.

Mr Joe Ghartey, Second Deputy Speaker, who presided, adjourned the seating to Wednesday, September 18, 2013 at 11am.