A government delegation is expected to leave the country for China to continue with negotiations for the release of some funds under the 3 billion China Development Bank (CDB) loan facility.
“I have a delegation leaving later tonight to China to discuss with CDB, the of the four subsidiary agreement that we currently have there,” President Mahama has said.
This comes after an appeal by President John Mahama for the Chinese government to expedite action on the release of $3 billion CDB loan to support infrastructural development.
Ghana has received about $600 million from the $3 billion loan facility even though the country continues to pay commitment fees on the whole sum.
Addressing the Western Regional House of Chiefs, President John Mahama said the delegation is expected to negotiate the signing of some four subsidiary agreements.
He said some funds generated from the loan facility will be used in the construction of three landing beaches in the region.
He was hopeful that the money will be released for the projects to begin.
On the transport sector, the President said his government is committed to start work on the construction of the western rail line from Takoradi to Kumasi in the next three years to ease the pressure on the roads.
President Mahama stated that “during this first term of my being in office, we will start work on the western railway line” adding that the project will surely be done to aid the easy transportation of minerals and farm produce.
By: Efua Idan Osam/citifmonline.com/Ghana