Government chasing after $3b CDB loan remainder

The Government of Ghana has sent a delegation to China to follow up on a $3 billion China Development Bank loan.

The team left on Saturday evening. President John Mahama told Chiefs and people in Takoradi during his working visit to the Western region that part of the loan will be used to construct more landing beaches in the area.

Mr Mahama said the team will negotiate signing of some four subsidiary agreements toward the release of the remainder of the $3 billion loan.

About $600 million of the amount has been disbursed to the West African country for infrastructure development in the oil and gas industry.

The Government is paying commitment fees on the entire loan even though the remainder has stalled for about three years.

-radioxyz

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ABOUT: Nana Kwesi Coomson

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An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.

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