Ofori Atta presents $28m loan agreement to parliament to purchase cars for all 275 MPs

Ofori Atta presents $28m loan agreement to parliament to purchase cars for all 275 MPs

  • Ken Ofori-Atta has tabled a loan agreement of $28 million before parliament
  • This loan agreement is for the purchase of 275 vehicles for members of parliament
  • The loan will be sourced from the National Investment Bank, NIB
  • Each member of parliament is expected to receive over $100,000 for the purchase of a vehicle

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News reaching YEN.com.gh indicates that the Minister for Finance, Ken Ofori-Atta, has tabled a loan agreement of $28 million before Parliament.

This loan agreement is for the purchase of 275 vehicles for members of the 8th Parliament of the fourth republic.

In a report filed by Citinews, in the papers presented to Parliament, the loan will be sourced from the National Investment Bank, NIB.

Finance Minister, Ken Ofori Atta
Finance Minister, Ken Ofori Atta Source: Graphic.com.gh

The report further indicated that each member of parliament is expected to receive over $100,000 for the purchase of a vehicle.

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The Finance Committee of parliament is however, expected to consider the loan agreement and report to parliament.

Judgement debt Ghana owes

Meanwhile, Ghana is facing another judgment debt of over 70 million dollars set to be paid to the West Africa Gas Limited (WAGL) following a London Court of Arbitration ruling.

According to a Starr News report, the court awarded against the government of Ghana a sum of US$ 68,584,623.37 with interest.

In its ruling, the court asked the Government of Ghana to pay the lump sum of over $68million including interests and other costs.

The government has to pay the money to the company after it terminated its Gas sales agreement dated October 9, 2015, with Ghana for what it says were roadblocks created by the former.

According to the details in the January 2021 judgement published by Pulse.com.gh, WAGL agreed to a consultancy service agreement with Siport XXI in the construction of an FRSU Terminal at the port of Tema.

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Our economy was resilient way before COVID-19 pandemic - Ofori-Atta

The company decided to terminate the contract because they were not allowed to do their work as preferred

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Source: Yen.com.gh

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