July 26, 2010

Parliament on Tuesday went into a close door sitting an hour after business of the day started to consider two loan agreements for the Ministry of Defence.

The first loan agreement is between the government of Ghana and Fr Lurssen Werft GmbH & Co. KG of Germany for $ 37,867,500.

When approved it will be used for the purchase and refurbishment of two former German Navy Fast Attack Craft Type S143, setting-to-work of the ships, supply of equipment, inventory and spares, training of crews and the transportation of the ships to Ghana.

The second loan is Buyer’s Credit agreement between the government of Ghana and the Poly Technologies Inc. of Beijing China for an amount of $ 100,000,000.00.

It will be used for the procurement of strategic equipment to re-equip the Ghana Army and the Ghana Air Force and also improve barracks accommodation for the soldiers.