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Agbodza bemoans duplication of projects captured in $750m loan agreement

The Ranking Member on the Roads and Transport Committee of Parliament, Governs Agbodza has bemoaned what he calls the duplication of projects and funding captured in the $750 million loan agreement before Parliament.

According to him, funding for infrastructure for the All African Games and rolling stock for the railway sector have already been approved by the house and as such, there is no need for them to be captured in the latest loan agreement.

He also contends that funding for the Suame interchange is captured twice in the loan agreement.

Speaking to the press, Governs Agbodza called for clarity from the Ministry of Finance and the other ministries concerned.

“We have noticed some projects being duplicated in the agreement. We do not believe this is right and we will not encourage it. We want some clarifications. The real problem in the Eastern corridor is the Oti-Damongo session, which the Chinese have failed to deliver, and we are encouraging the Minister for Roads and Highways to terminate the contract and reward it.”

“If we have any resources, we should be setting aside some money for the new contractor to complete the session… We believe that the breakdown is not satisfactory. We are not necessarily opposed to the $750 million. We only want to get things clearer. The information we have gathered so far is too limited.”

Parliament is currently debating the loan agreement with the Afrexim Bank for funding infrastructure projects and budget support.

The loan is part of a $1 billion dollar the government is seeking to shore up its reserves as well as to pay for several infrastructure projects across the country.

The Chairman of the Finance Committee, Kwaku Kwarteng moved the motion while the Ranking Member on the Committee, Dr Cassiel Ato-Forson during his contribution indicated that government has not built the necessary financial buffers to pay back the loan.

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