HOUSE RATIFIES ID LOAN AGRREMENT

Accra, feb 9, parliament today ratified a 12.3 Million Dollar loan agreement between the government and the International development association (ida) for the mining Sector development and environment project. the loan was ratified with 107 votes. the project is to strengthen the mining sector Institutions and develop techniques to improve the Productivity and reduce the environmental impact of small Scale mining activities.

the loan which is payable over a 30 year period, Commencing from 2005, has a service charge of three Quarters of one per cent and a commitment charge of a half Of one per cent. There is no interest charged on the loan. Mr samuel nuamah donkor, ncp new juabeng north, Seconding the motion for the adoption of the report of the Finance committee on the agreement, said it will help Achieve the 680 million dollars revenue Expected from the mining sector this year.

The member said apart from improving supervision over Mining activities, the facility will also help the Geological survey department to map out some mining areas, Especially in northern ghana. mr francis adu poku, ndc asunafo north, said one Important aspect of the loan component is for land Reclamation and this is very important. He urged the minerals commission not to use its part of The loan to buy pajeros and land cruisers, adding that what Should be important to them must be the promotion of Activities to support the Sector.