Ghana Goes in for $131m Loan

Four loan agreements totalling 131 million dollars were on Wednesday laid before Parliament and referred to the Finance Committee of the House for consideration.

The first loan involved 110 million dollars to finance the third Economic Reform Support Operation (ERSO III) while the rest, which would be in separate batches, would be used for the Rural Financial Services Project.

An amount of 5.13 million dollars is expected from the International

Development Association while another 11 million dollars would come from International Fund for Agricultural Development and the African Development Fund would provide the country with 5.05 million dollars.

Mr Kwamena Bartels, Minister of Works and Housing, laid the agreements on behalf of the Finance Minister, Mr Yaw Osafo-Maafo.The Speaker, Mr Peter Ala Adjetey asked the Finance Committee to expedite action on the agreements.