Ghana Grabs $1bn From Brazil For Energy & Agric Projects

President John Dramani Mahama on Wednesday said Ghana would soon receive a one billion dollar loan facility from the Brazilian government to undertake projects in energy, agriculture and other development projects. He said the government, through the Social Security and National Insurance Trust, would complete all the 4,900 affordable houses started by the Kufuor Administration. “The houses, when completed, would be sold to public and civil servants all over the country to reduce the housing deficit,” he said. President Mahama said this when he cut the sod for start of work on the Republic of Ghana and Construtora OAS Housing Project at Saglemi, near Old Ningo, in the Greater Accra Region. The company is expected to build 5,000 housing units within a four-year period. Ghana Home Loans would be in-charge of the mortgage system of the housing units. President Mahama said public housing was becoming necessary on account of high advance payment demanded landlords and

landladies. He said public workers would, in the next three years, become comfortable as the government was working around the clock to build more housing units throughout the country. The President pledged to provide a leadership that would sustain Ghana’s position as the pride of the African continent in the coming years. President Mahama said the government’s failure in the STX Housing Units gave the government the opportunity to search for alternatives, hence the coming on board by the Brazilian Construtora OAS company. continued