Afreximbank loan: Ghana receives $713m instead of $750

Finance Minister

The much-talked about Afreximbank loan has finally hit the Bank of Ghana’s account on Thursday but the amount fell short of what Parliament had approved.

The central bank received $713 million instead of the $750 million expected.

As at close of day Friday, the Bank of Ghana had received two dollar and one euro tranches from Afreximbank, totaling about $713 million.

But, the loan agreement as approved by Parliament contained $750 million, indicating a shortfall of $37 million.

3Buisness sources inside the BoG could not explain why the funds fell short of the approved figure..

The sources explain that some $13 million had already been paid as fees and so the shortfall must be something other than fees.

Government earmarked the facility for some key infrastructure projects including roads and some sports facilities for the 2023 All Africa Games to be hosted by Ghana.

Source: 3news|Ghana

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