• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

$37m of Afreximbank facility set aside for debt service obligation – Dep Finance Minister

3 years ago
in Business, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
54
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

$37m of Afreximbank facility set aside for debt service obligation – Dep Finance Minister

First Deputy Minister for Finance, John Kumah, has stated that an amount of $37 million out of the $750 million Afreximbank facility, has been to set aside for debt service obligations of the country.

In a Facebook post in response to claims by Cassiel Ato Forson, ranking member of Parliament’s finance committee, that the government of Ghana received USD$ 713 million instead of USD$ 750 million, Mr John Kumah noted that “government has received fully the total amount of USD$ 750 million from Afreximbank as was approved by Parliament”.

“Government also as part of the transaction has created an Escrow Account for debt service for the facility”.

“This arrangement is not new as the Ministry of Finance have from time to time created specialized Escrow accounts for specific purposes”.

“In this particular transaction, an amount of USD37.0 million from the facility has been set-aside for debt service obligations” the Facebook post read.

“All the documentation relating this arrangement were supplied to and was approved by Parliament”.

RelatedPosts

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

Nigeria Leads as Africa’s Wealthiest Economies Lose Over 8,000 Millionaires in 10 Years

Financial Stocks Gain as Accra Bourse Slips on Prime Index Decline

“Government is grateful to Afreximbank and assure all Ghanaians that the funds will be applied specially to the specific infrastructure projects approved by Parliament” Mr Kumah’s post further read.

Afreximbank facility

The Afreximbank facility is expected to finance capital and growth-related expenditures in the 2022 Budget.

It will also give a big boost to the local currency, by helping to stabilize the cedi, which has been under serious depreciation pressure this month, especially.

With growing concerns over the fate of the cedi, Asaase news followed the progress of the U$750m injection of foreign exchange into the economy.

The proceeds from the loan would largely be used to finance projects in the roads, energy, railways, and health sectors.

These projects are those outlined in the 2022 Budget Statement and Economic Policy of Government.

Source: asaaseradio
Tags: $37m of Afreximbank facility set aside for debt service obligation – Dep Finance Minister$750 million Afreximbank facilityghana
No Result
View All Result

Highlights

Ghana in Talks With Nigeria Over Possible Barter Deal to Swap Gas for Electricity

Ghana set to Save $300m in Debt Restructuring Deal With IPPs – ACEP’s Ben Boakye Discloses

Morocco and Madagascar set up Historic CHAN Final in Nairobi

US Open: Defending Champions Swiatek and Sinner Cruise Into Second Round

Otto Addo Names Strong 24-Man Squad As Black Stars Prepare For Crucial World Cup Qualifiers Against Chad and Mali

FEC 2025: NRGI Warns Fossil Fuel Investments Risk Undermining Africa’s Energy Transition; Lists Innovative Financing Instruments to Plug Transition Funding Shortfall

Trending

Business

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports

August 27, 2025

 Importers and Exporters Association Decries “Mafiarian” Auctions of Perishable Goods at Ghana’s Ports The Importers and Exporters...

Nigeria Leads as Africa’s Wealthiest Economies Lose Over 8,000 Millionaires in 10 Years

August 27, 2025

Financial Stocks Gain as Accra Bourse Slips on Prime Index Decline

August 27, 2025

Ghana in Talks With Nigeria Over Possible Barter Deal to Swap Gas for Electricity

August 27, 2025

Ghana set to Save $300m in Debt Restructuring Deal With IPPs – ACEP’s Ben Boakye Discloses

August 27, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.