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    Ghana: Parliament approves $750m loan facility

    APA-Accra (Ghana)

    The Ghanaian Parliament on Thursday approved a $750-million loan facility to fund or refinance various infrastructure development projects as well as manage liability.

    The syndicated loan facility is jointly provided by Standard Chartered Bank, UK and

    Standard Bank of South Africa.

    The facility is part of efforts by the government to finance the 2019 budget as a

    stop-gap measure to raise close to $3 billion from the International Capital Market.

    The Chairman of the Finance Committee of Parliament, Dr. Mark Assibe-Yeboah, in a

    paper presented to the House, said: "Whilst the necessary processes are ongoing

    for the 2019 Bond issuance, government is sourcing this bridge facility as an interim

    measure to help keep government's economic programme for the year on track."

    He, however, praised the economy for being on a sound footing, attributing the low

    inflows of offshore capital into the economy to the well-laid structures in the economy.


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