Franklin Cudjoe drops boom shell on Ghana's $ 3 billion Chinese loan

A founding member and President of IMANI Ghana, Franklin Cudjoe, has made some damning revelations on the $ 3 billion Chinese loan contracted by the Atta Mills led administration in 2011.

The loan agreement which was signed between the Government of Ghana and the China Development Bank (CDB) raised a lot of concern across the Ghanaian public prior to the final approval of Parliament.

The Government of Ghana however proceeded to pursue the loan with little or no regard to the issues which were raised by the minority groups in Parliament, and some leading civil society groups like IMANI Ghana which appeared to have been resourced with information on the agreement. 

The then Vice President John Mahama who signed the agreement in China on behalf of the Government, was highly optimistic that the signing and subsequent disbursement of $ 1 billion would boost the Ghanaian economy.

Several months after going back and forth on the loan agreement, Ghana is yet to fully benefit from the this loan facility which has prompted a lot heated debate between Government and some civil societies groups, considered as doubting Thomas'.

It stem from these concern and interest that some revelations have been made by Franklin Cudjoe on his facebook page.

According to Franklin Cudjoe of IMANI......

''Facts from China:

1. The Chinese Government is NOT party to the $3BN loan from the CDB
2. The Chinese Development Bank is a COMMERCIAL BANK not an appendage of Chinese Government
3. The Ghanaian Government is SOLELY responsible for the delay in the release of funds
4. The Ghanaian Government has retreated twice on the amended contract
5. The Ghanaian Goverment [sic] is demonstrating to the CDB that they don't need the money. They can get money from Turkey, Europe, US and more.
6. There is more, but when I return from "China"...............''

refer to the link :https://www.facebook.com/permalink.php?story_fbid=465423420211370&id=118899274863788