Parliament has approved a US$250 million financing agreement between the Government of Ghana and the International Development Association for the Ghana Energy Sector Recovery Programme.
The loan is expected to cushion efforts in stabilizing the country’s energy sector, resolving financial challenges, and ensuring a viable power supply across the country.
The facility, which was earlier rejected before the parliamentary recess was the primary reason for the recall of Parliament for a two-day emergency sitting.
The Minority had expressed strong reservations about the facility. This includes a US$90 million consultancy fee embedded within the loan agreement. They argued that the fee was excessively high hence the need for further scrutiny before approval.
Although the motion received objections, the loan facility was approved. The Majority emphasized that the approval of the loan was important as the government needed funds to resolve issues in the energy sector.
