GIIF Denies signing agreement To Build Compost Plants

The Ghana Infrastructure Investment Fund (GIIF) says it has not entered into any agreement with any of the companies under the JOSPONG Group of Companies for the construction of compost plants in some regions of the country.

Speaking to the media in Accra, an official of GIIF denied flatly any funding support for the proposed compost plants project had been submitted to the office for consideration.

The GIIF indicated that JOSPONG Group last year, submitted a proposal for setting up regional compost plant projects to GIIF for consideration and funding, following which they were asked to make a presentation to GIIF, which they did sometime last year.

The proposal did not go beyond the presentation stage as GIIF had at the time committed its resources to the funding of other equally important pipeline projects.

“Nothing happened beyond the presentation stage,” the official said.

They, however, lauded the Group for coming up with such a laudable and important project, but GIIF regretted it could not help fund the projects.

“We have not spent even a pesewa on the projects,” the official said and dismissed speculations in the media which suggested that, GIIF has signed agreement with Jospong.

GIIF officials therefore distanced Professor Ameyaw Akumfi, Board Chairman of GIIF from any

such deal since the office had not spent any amount to finance the compost plant project.

They said, such proposals are not handled by the Board Chairman, but by a committee, which conducts feasibility studies and due diligence into the project after which it recommends to the board for approval and implementation.

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