Takoradi, Sept. 6, GNA— The Western Region Youth Wing of the New Patriotic Party (NPP), has refuted allegations that, the party and its parliamentarians in the Region are against the government resolve to acquire the US$3 billion dollar Chinese loan for national development.

Addressing a press conference in Takoradi on Monday, Mr. Abdul Ganiyu Mohammed, Western Regional NPP Youth Organizer, said the party and its parliamentarians rejected a loan facility because its terms and conditions are not in the best interest of the country.

He said the party did not oppose the loan facility but rather raised very pertinent issues, which are very important for the overall interest of the country.

Mr. Mohammed indicated that, the diligence of the NPP Minority in Parliament helped the country to save over US$112.50 million dollars, and stressed that, the diligence of the NPP parliamentarians led the Speaker of Parliament to order for an amendment of the loan facility.

The NPP Youth Organizer commended the vigilance and tenacity of purpose of the NPP Minority in Parliament for exposing the loopholes and ambiguity in the loan facility.

Analyzing the merits and demerits of the loan facility, the NPP Regional Communications Director, Mr. Emmanuel Acquah, said the Master Loan facility Agreement provided for one-time upfront payment fee of $7.5 million dollars per year representing 0.25%, which is not in the best interest of the country.

He also argued that, the loan Agreement provides that, a minimum of 60 per cent of the contracts would be awarded to Chinese companies, which is a big slap in the face of many Ghanaian contractors, engineers and businesses.

Mr. Acquah asked why the Ghana Government is funding the project through a commercial loan facility and that after the project has been executed, the Chinese contractor is going to operate for a period before handing over to the stakeholder.

The Regional Communication Director observed that, with the estimates of the country’s receipt of the oil revenue of about $1billion per annum, of which $700 million is for the Annual Budget Funding Amount, it becomes very imprudent to go for such a loan facility, which may come in trenches with all its encumbrances.

He debunked allegations peddled by the Western Regional NDC Youth Wing that the NPP Government did not pursue any meaningful development projects for the Region during its tenure of office.

Mr. Acquah categorized a number of projects undertaken during the Kufour-led administration in the region ranging from roads, classroom blocks, provision of electricity and potable water.

“We want to state that, the NPP Government did more than what has been enumerated and therefore it cannot be tagged as anti-development as purported by the NDC Youth Wing, “he added.

Mr. Acquah therefore described the allegations peddled against the NPP as reckless and a mischievous attempt by the NDC to instigate the people of the Region against the party and its parliamentarians.