Finance Committee to recommend approval of $250m loan

The Finance Committee is expected to recommend to Parliament the approval of a $250 million loan aimed at bolstering the financial sector.

Chairman of the Committee, Patrick Boamah, says this recommendation is based on a majority decision.

The World Bank facility aims to address the impact of the country's Domestic Debt Exchange Programme (DDEP) on banks and financial institutions.

The Minority have demanded the establishment of a fund to manage these funds.

Addressing journalists in Parliament, Patrick Boamah explained that the Majority did not agree to this demand, hence the decision to recommend the approval by majority decision.