Parliament has approved a $35-million Financing Agreement, between the Government and the International Development Association (IDA), to finance the Ghana COVID-19 Emergency Preparedness and Response Project.
The facility forms part of the $100 million Government is seeking from the World Bank to finance the Ghana COVID-19 Emergency Preparedness and Response Plan.
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However, information available to Happyghana.com from a reliable source says that $700,000 of the loan will be used to support families of the isolated persons and $ 12.7million for leasing and renting Isolation centers.
The government of Ghana has taken over some hotels and has made them isolation centres in the face of the growing spread of the coronavirus disease in the country.
The government is expected to source for the remaining $65 million from the Contingency Emergency Response Component of the World meant for the Greater Accra Resilient and Integrated Development (GARID) Project.
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To ensure that the GARID project is not truncated, the $65 million would be refunded from Ghana’s IDA COVID-19 allocations effective July this year (2020).
The loan facility has a maturity period of 30 years, with 25 years repayment period, 5 years grace period and a maximum commitment charge of 0.5% per annum.
