Ghana secures $15b Chinese loan for transformation agenda

Ghana secures $15b Chinese loan for transformation agenda

Ghana has secured a China’s commitment of $15 billion to finance its massive economic transformation agenda.

According to GNA a further $4 billion will be obtained by Ghana also for other projects across the country.

The package from China was based on the financing module presented by Ghana, seeking for partnership to finance the economic agenda.

The deal is not borrowing but leveraging on the utilisation of a minute fraction of its untapped and proven mineral resources,

Vice President Mahamudu Bawumia of Ghana led a delegation to China returned home on Saturday after four days stay n that country.

He came with armful of new economic agreements that were expected to kick start the country’s ambitious plan and improve the country’s economic performance and fortunes.

He said that the deal was better than obtaining a loan which would strangulate the country.

The Vice President said that they had some listening of both the Chinese government and the private sector.

He said the country got the China commitment of $15 billion for the economic transformation agenda as well as $4 billion for other projects.

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