15billion from China is a better trade not a loan- Nyindam

July 7, 2017 Leave a comment

The Majority chief whip in Parliament and Member of Parliament for Kpandai constituency in the Northern region, Hon. Mathew Nyindam has debunked the minority claims on the 15billion dollars from china as loan which will increase the country’s debt.

According to him, there are a lot of resources in Ghana but we don’t have the ability to explored it, but China have the capacity to that, so the move by the vice president Dr. Mahamadu Bawumia to secure the money came into the agreement of better trading. ”(we give them the resources, then they give as money to develop our country).”

Speaking on Radio 1 breakfast show ”Susubribi” with host Captain Kofi Owusu, Hon. Mathew MP for Kpandai constituency said, the aimed of the NPP is not to borrow the traditional way NDC went and borrow and indebted the country.

He said pertaining to what the NDC is saying about the Bauxite concession which was used as collateral for the 15billion dollars Chinese loan as presumed by the minority, China will only enjoyed 5% of the 460billion dollars of Ghanaian Bauxite.

He added that, the agreement is not going to benefit only China, Ghana will also benefit as well, and is not going to add any debt to the current debt of the country.

”Bawumia said we will not borrow the traditional way NDC went and indebted this country, so fortunate, Ghana has been blessed with a lot of resources, and Bauxite is one of them, Dr. Bawumia went to China to just look at how we can partner and develop our various countries, So the Chinese decided that yes, we have Bauxite in this country, and the Bauxite that is on track is about 460billion dollars in which the arrangement of the negotiation is not more than 5% of Ghanaian Bauxite. So it was about how the Chinese can quantify the Bauxite resources so that, they too can give as money (15billion dollars) to develop our country, infrastructures, Roads, Agriculture etc, so it is not going to add any debt to our current debt.” he stated.

Source: radiooneghana.com/ Adjanor Andrews.