Prime News Ghana

$1.5bn loan for GETFund is ''ridiculous'' – Avedzi

By Wendy Amarteifio
$1.5bn_ loan for GETFund ‘too high’ –  James Klutse Avedzi
$1.5bn loan for GETFund is ''ridiculous'' – Avedzi

The Deputy Minority Leader in Parliament, James Klutse Avedzi, has described plans for a $1.5 billion facility to be contracted for the Ghana Education Trust Fund (GETFund) as “ridiculous”.


The purpose of the facility is to be used for educational infrastructural development.

The request for the facility was captured in the business statement of the House on Tuesday.

Mr. Avedzi told Citi News monitored by Prime News Ghana that,“ On Tuesday morning, there was a request for GETFund to borrow $1.5 billion. For now, we don’t have the details; where they will be borrowing the money from, what the terms and conditions of that borrowing [are],”

“To me personally, I think that $1.5 billion is on the high side,” the Mr. Avedzi added.

National Democratic Congress MP suggested that a facility of $500 million “should be sufficient so we can see how they [GETFund] will be able to manage that money. But giving them a blanket GHc7.5 billion which is $1.5 billion is on the high side.”

GETFund recently secured a $500 million facility to boost infrastructure at the various schools in the country.

The facility was for the building of new schools and the expansion of infrastructure and existing ones.

Ghana has struggled with inadequate infrastructure, which has been brought into focus because of increased enrollment that accompanied the Free Senior High School policy.

READ MORE:Mahama explains how well he will run NPP's Free SHS if elected President

The amount was also for contractors who had outstanding arrears.

GETFund has struggled to pay contractors working on infrastructure projects.

 In July, the Association of Conscientious Public Sector Contractors said it had not been paid for work done in schools since 2016.

The Association also threatened to sue the government.

This prompted the Senior Minister, Yaw Osafo Maafo, to urge contractors undertaking various GETFund projects to consider other sources of funding in the open market to complete abandoned projects.

Ghana News: Latest news in Ghana