$15m more loan for Presidential Palace

...$11m more loan for Ghana@50 celebrations
Accra, July 31, GNA - Parliament, after a heated and lengthy debate between the majority NPP and the main opposition NDC, has approved a loan agreement between the Government of Ghana and Stanbic Bank, Ghana for an amount of $15 million for construction and rehabilitation works at the Flagstaff House.

While the Majority extolled the construction project, to be considered as Ghana's Presidential Palace, the Minority NDC dismissed it, and its members rather called for such funds to be used towards solving the nation's energy crisis, poverty alleviation programmes and providing accommodation on Ghana's university campuses.

The Legislature had earlier on Wednesday revisited the loan agreement but lack of quorum stalled a final vote on the motion. Debate on the motion on the loan agreement had been characterized by wrangling about the actual cost of the project.

The Minister of Presidential Affairs, Mr. Kwadwo Mpiani had maintained that he had told the House when he appeared before it that the cost of the project at its initial stage was 36.9 million dollars but the total cost could only be known after completion.

The House on Monday also approved the Loan Agreement between the Government of Ghana and the Fidelity Bank for an amount of $11.8m to support the Ghana @ 50 celebrations.

Prior to the approval, members from the Minority side had called on the Ghana @ 50 Secretariat, which was tasked with the planning of the Jubilee, to account to the nation on how it utilized an amount of $20m voted for the celebrations.

Contributions from the Minority NDC side, with the support of the Mr. Eugene Atta Agyapong from the Majority NPP, earlier rejected the motion to approve the loan which they said added up to make the total expenditure on the celebrations $31.8m.

"It is the unwise who would go for a loan to celebrate his birthday" they said, but Mr. Mpiani explained that the monies were necessary to give the city a facelift to host the numerous dignitaries that came from around the world for the celebrations.

The House also ratified a request by the Government of Ghana to borrow from the International Capital Market an amount up to $750m to support the implementation of the medium term investment plan of 2007-2008. It adopted the Supplementary Budget Estimates for the year 2007.