LIVESTREAMING: Minority addresses media on $19 billion China loan

The minority in parliament is addressing the media on an agreement between Ghana and the Chinese government for a $19 billion facility.

Vice President Dr. Mahamudu Bawumia last week announced that the Government of Ghana had secured the said amount after successful negotiations with the Chinese government. The agreement, he said, was going to see China help Ghana in the exploration of Bauxite and other untapped natural resources.

It was also to see the country(Ghana) benefit in several other ways including technical expertise and financial assistance. While many have described the amount as a loan, government insists the $19 billion facility is a grant and not a loan as is being speculated.

The Vice President, Dr. Mahamadu Bawumia, has hit back at critics who say the government is unfairly using the country’s natural resources to contract a $19 billion loan facility from the Chinese government.

According to him, the Memorandum of Understanding signed between the Government of Ghana and the Chinese government, is a joint venture and not a loan.

The government has come under pressure from the Minority in Parliament and some civil society organizations over its plan to leverage the country’s Bauxite deposits in the Atiwa forest to contract the money.

Watch a livestream of the press conference being addressed by Minority Leader, Haruna Iddrisu.