4 July 2012

Ghana: We Will Use Chinese Loan Judiciously - VP

Vice President John Dramani Mahama on Monday gave the assurance that the Chinese loan that government had secured would be used judiciously in all sectors of the economy to the benefit Ghanaians.

He said the money would among other things be used for construction of major roads, building of marine sites, landing sites for major fishing and coastal communities, rehabilitation of the Takoradi Ports and harbour, and for the development of oil and gas and railway sectors.

Vice President Mahama gave this assurance when Yuang Li, Deputy Governor of the Chinese Development Bank, led a delegation to call on him at the Jubilee Lodge of the Kotoka International Airport, Accra.

The delegation has been in the country since Saturday as part its tour of partner countries in Africa, and had interacted with various government officials, to find out at first hand projects their the bank would be supporting in subsequent years.

Vice President said the loan would help government to put up more development projects that would enhance Ghana's status as a budding middle income country, and to strive to become the icon of the African continent.

He regretted the bureaucratic bottlenecks that had delayed the passage of the bills on the agreements and loans, but added that it was a demonstration of how government was conscious of transparency and the rule of law.

Vice President Mahama commended the Chinese government for their support for Ghana over the years and promised that the government would do everything possible to consolidate the already cordial relationship between the two countries. Mr. Li said Ghana was a fast developing African country and China was proud to be partnering her for further development in the coming years.

"We are in Ghana and we are encouraged with the development plans of your country, and this is encouraging us to come out with future areas of cooperation for the mutual benefit of our countries," he concluded.

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