Mr Speaker, thank you for the opportunity to contribute to the Motion and to speak in support of it.
However, in doing so, I refer you to page 8 of your Committee's Report which reads with permission:
“The Committee observed that the financing agreement has a grand element of 22 per cent”.
Mr Speaker, under article 181 of the 1992 Constitution, our burden and mandate as a Parliament is not to grant approval for grants. So, if there is a grant element of 22 per cent -- 22
per cent of 100 million should amount to about 22 million. This means that the loan we are approving for all intents and purposes should be 88 million and not 100 million that is, if I am to follow the Report.
So, I further refer you to page 5 of your Committee's Report, it says; loan amount -- 100 million. So, someone must explain to me, the grant component where it belongs to because we cannot be approving -- this is a loan/grant and so, where is the grant?
Mr Speaker, I am raising this because there are interests and services charged as well as commitment fees charged on the 88 million or the 100 million? Somebody from the Ministry of Finance or probably, the Finance Committee must explain that to me.
Reading this Report, I can say that I am a very proud member of the National Democratic Congress (NDC) and our Hon Colleagues on the Opposite side create the impression all the time that the NDC did nothing while in power.
However, may I refer you to page 2 of your Committee's Report where I take my satisfaction of being an NDC member and part of its government which I beg to read:
“The country's favourable economic growth performance has been accompanied by a substantial reduction in the prevalence of poverty from 36 per cent in 1992 to 8 per cent in 2016". They should have added the year 2017.
Mr Speaker, so it is substantial reduction of poverty under the NDC Government yet they create the impression every day - this is the Government's contribution to ameliorating poverty in the country and the Committee Reports speaks volumes of it.
So, the challenge of President Akufo-Addo and the New Patriotic Party (NPP) - take the 8.2 per cent to 1 per cent and let us measure them from the year 2017 to 2024 and they must further reduce poverty.
Mr Speaker, while I make this observation, the Hon Chairman of the Finance Committee made a very important comment --accept it or not, the COVID-19 pandemic has contributed to deepening poverty, inequality, reducing employment opportunities, particularly for women by some research which has been conducted on post COVID-19 in 2020. Therefore, it is important that
we take advantage of some of these facilities to enable us improve our post-COVID-19 recovery as a country.
Mr Speaker, again, on page 2, they tell us that the National Health Insurance Scheme is doing well, and they are borrowing to finance it. Look at the list of items which include Ghana School Feeding Programme. With the Ghana School Feeding Programme, even as the Dutch Government left it, Ghana Beyond Aid means that Ghana without calabash.
We do not hold a calabash to beg and borrow money. However, if we are going for loans to finance the National Health Insurance Scheme, the Ghana School Feeding Programme and to finance Livelihood Empowerment Against Poverty (LEAP), then what happened to the Ghana Beyond Aid and the quest to position Ghana as a favourable economy?
Mr Speaker, to conclude, significantly again, as observed by the Committee, the growth of our economy on page 2, paragraph 3, says Ghana has recorded a relatively high growth over the past two decades and not over the past two or four years.
So there has been consistent growth of the economy of Ghana,