Gov’t Seeks Parliamentary Approval to Borrow over $166million to buy armoured Cars

An Amoured Vehicle
An Amoured Vehicle
The Government of Ghana under the able leadership of President Nana Akufo Addo is seeking to borrow an amount of $166,120,000 to buy armoured vehicles for the various security agencies in the country.

According to the order paper of Parliament sighted by CoverGhana indicates that, the minister of finance is seeking approval from Parliament to borrow an amount of USS74,120,000.00 and US$6,120,000.00 to finance the purchase of Armoured
Vehicles for the Government of Ghana.

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The loan agreement is between the Government of Ghana and the Israel Discount Bank Limited.

Below are excerpts from the order paper from the Parliament of Ghana

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AT THE COMMENCEMENT OF PUBLIC BUSINESS
(1) PRESENTATION OF PAPERS
The following Papers to be presented:
By the Minister for Finance;
(a) (i) Loan Agreement between the Government of the Republic of Ghana (represented by the Ministry of Finance) and Israel Discount Bank Limited for an amount of Seventy-Four Million, One Hundred and Twenty Thousand United States Dollars (USS74,120,000.00 [including ASHRA’s Premium of US$6,120,000.00]) to finance the supply of Armoured Vehicles to the Government of Ghana.

(ii) Loan Agreement between the Government of Commercial the Republic of Ghana (represented by the Ministry of Finance) and Israel Discount Bank Limited for an amount of Twelve Million United States Dollars (USS12,000,000.00) to finance the supply of Armoured Vehicles for the Government of Ghana.

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(b) By the Minister for Defence Contract Agreement between the Government of the Republic of Ghana (represented by the Ministry of Defence) and Elbit Systems.

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