Parliament approves $150m loan for GARID project

Parliament on Friday, May 17 approved a loan facility of $150 million from the World Bank.

The loan facility is to fund the ongoing Greater Accra Resilient and Integrated Development (GARID) project.

The Loan was approved despite concerns raised by the Minority in the House.

TV2’s Komla Kluste who was in parliament reported that “After a heated debate and a head count following a disputed voice vote, the speaker declared the majority MPs having won the vote on the $150 million loan. 137 NPP MPs voted in favour of the loan as against 132 NDC MPs.”

Prior to the approval, the Minority Leader Dr Cassiel Ato Forson had said on the floor of the House that “How is the approval of US$150 million loan an urgent issue, when US$200 million for phase one approved by this House has been misapplied and not accounted for?

“How is it an urgent matter for Parliament to be summoned from recess to approve a-US$150 million loan agreement at a time that this government is granting questionable US$450 million tax waiver?

“Therefore, we want to make the point clear that there is no urgent matter before the House to warrant this recall.”

The post Parliament approves $150m loan for GARID project first appeared on 3News.

Read Full Story