Western NPP MPs Declare Support for $3bn Loan Deal

Ahead of the expected Parliamentary approval of the $3 billion Chinese loan facility, the Minority in Parliament appear to have softened their complete opposition to the deal, only calling for amendments to portions of the agreement. The Finance Committee of Parliament on Wednesday August 24, recommended for approval by majority decision, the $3 billion loan agreement between the Government of the Republic of Ghana and the China Development Bank. Debate on the Bill, laid before the House on Wednesday, will begin on Thursday August 25. The Minority members of the Committee disagreed with aspects of the loan agreement and were conspicuously missing from a press conference held by the Western Regional caucus to throw their support for the loan deal which has been earmarked to provide funds to undertake some projects in the region. The loan is also meant to finance a number of infrastructure projects, including the Eastern Corridor roads and Accra Plains Irrigation project. Speaking on the Citi Eyewitness News on Wednesday August 24, Joe Baidoe-Ansah, NPP Member of Parliament for Effia Kwesimintim constituency stated categorically that as an indigene of the Western region he would support any move that is geared towards the development of the Region. He denied allegations that NPP MPs from the Western region are not committed to the development of the region, saying he had already confirmed his support of the $3 billion loan agreement to the deputy Minister for Energy and MP for Elembelle, Kofi Armah Buah. "If it is even one penny that is going to the Western Region, we would support it. We support any amount of money that would come to the Western Region and this has been consistent. This is not the first time that the government has allocated money to the Western Region. �Anything that would make your region great you should support it�. Hon Joe Baidoe-Ansah however explained that the Miniority was uncomfortable with the plan to use expected revenue from the commercial exploitation of Ghana�s oil as collateral to secure the $3 billion loan from the China Development Bank.