The Minority in Parliament has criticised the government\u2019s decision to secure a US$300 million loan from the World Bank to finance the Secondary Education Transformation for Access, Relevance and Results for Jobs project.<\/p>\n\n\n\n
The caucus argued that the loan, which is expected to support efforts to end the double-track system under the Free SHS programme, highlights what it describes as the government\u2019s inability to effectively manage the country\u2019s finances less than a year after Ghana exited the IMF programme.<\/p>\n\n\n\n
Speaking on the floor of Parliament on Tuesday, July 21, the Member of Parliament for Tano North and Deputy Ranking Member on the Finance Committee, Dr Gideon Boako, and Ranking Member on the Economy and Development Committee and MP for Ofoase-Ayirebi, Kojo Oppong Nkrumah, accused the government of failing to meet key financial obligations.<\/p>\n\n\n\n
Dr Boako said the government\u2019s decision to return to the debt market shortly after exiting the IMF programme was a sign of weak revenue mobilisation.<\/p>\n\n\n\n
\n\u201cWe just exited the IMF programme, and in just under a year, we have begun to see government resort to the debt market to finance critical investments in this country. It is happening so because the Finance Ministry and the managers of finance in this country are doing virtually nothing to ensure that we\u2019re able to raise the needed revenue to finance the critical investments. And that is why we have resorted to borrowing. If we\u2019re going to borrow to finance secondary education, that is very sad.<\/p>\n\n\n\n
\u201cIf you look at the fiscal data for the first quarter of 2026, VAT we were below 6.5% of our target; NHIS levy fell by 29.9% of the target; crude oil receipts were 37% of the target,\u201d he said.<\/p>\n<\/blockquote>\n\n\n\n
Mr Oppong Nkrumah also criticised the government\u2019s spending priorities, arguing that funds were being allocated to areas outside what he described as key national priorities.<\/p>\n\n\n\n
\n\u201cThey are spending money on other things, giving money to EPA, and other things. That is why they can\u2019t find resources to pay priorities, and they have gone to the debt market,\u201d he said.<\/p>\n<\/blockquote>\n\n\n\n
Meanwhile, the Chairman of Parliament\u2019s Finance Committee and Member of Parliament for Bolgatanga Central, Isaac Adongo, has rejected claims that the government\u2019s proposed World Bank loan is intended to finance the Free Senior High School (Free SHS) programme.<\/p>\n\n\n\n
Mr Adongo said the loan agreement before the House was aimed at improving access to secondary education and strengthening the sector, rather than financing the Free SHS policy.<\/p>\n\n\n\n
\u201cMr. Speaker, it is important to indicate that there is no loan agreement before this House to finance Free SHS,\u201d he said.<\/p>\n\n\n\n
He explained that the facility would be used to eliminate the double-track system, expand access to secondary education and upgrade school infrastructure.<\/p>\n\n\n\n
\u201cWhat we are considering is a loan agreement that is meant to improve access to free secondary education, to ensure that we eliminate the double track, provide more opportunities for Grade C schools to be upgraded to Grade B, and for Grade B to be upgraded to Grade A,\u201d he stated.<\/p>\n\n\n\n
Mr Adongo outlined the allocation of the loan, saying US$257.7 million had been earmarked for the first component of the project, which focuses on increasing equitable access to secondary education.<\/p>\n\n\n\n
He said a further US$33.8 million had been allocated to improve the quality and relevance of secondary education under the second component.<\/p>\n\n\n\n
According to him, the third component, which seeks to strengthen education systems, communication and evidence-based decision-making, has been allocated US$8.5 million.<\/p>\n\n\n\n
Mr Adongo added that the Government of Ghana would contribute US$23 million in counterpart funding to support the implementation of the project.<\/p>\n\n\n\n
\u201cThe Government of Ghana will be providing $23 million in counterpart funding to fully implement this project,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Minority in Parliament has criticised the government\u2019s decision to secure a US$300 million loan from the World Bank to finance the Secondary Education Transformation for Access, Relevance and Results for Jobs project. The caucus argued that the loan, which is expected to support efforts to end the double-track system under the Free SHS programme, […]<\/p>\n","protected":false},"author":8,"featured_media":40554,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_post_source_name":"citinews","_post_source_url":"https:\/\/citinewsroom.com","footnotes":""},"categories":[43,1],"tags":[4836,11261,7358,4902,9042,7489,5499,7396,6725,4821,5196,423,10427,12354,136,3424,192,709,2264,4634,5060,9246,8995,5260,7407,5205,1557,7225,10742,5612,278,3245,5146,7964,5441,12764,1198,5278,13301,8383,6736,8810,213,9277,11487,6348,8632,3954,36,2920],"class_list":["post-52751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local-news","category-news","tag-access","tag-accused","tag-bank","tag-bolgatanga","tag-borrowing","tag-chairman","tag-crude-oil","tag-data","tag-debt","tag-dr-gideon-boako","tag-economy","tag-education","tag-epa","tag-finance","tag-free-shs","tag-free-shs-policy","tag-ghana","tag-gideon-boako","tag-government","tag-government-of-ghana","tag-imf","tag-improving","tag-infrastructure","tag-isaac-adongo","tag-jobs","tag-july","tag-kojo-oppong-nkrumah","tag-loan","tag-market","tag-money","tag-mp","tag-nhis","tag-nkrumah","tag-north","tag-oil","tag-oppong-nkrumah","tag-parliament","tag-quality","tag-results","tag-revenue","tag-school","tag-schools","tag-shs","tag-speaker","tag-upgrade","tag-us","tag-vat","tag-will","tag-world","tag-world-bank"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/52751","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/comments?post=52751"}],"version-history":[{"count":1,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/52751\/revisions"}],"predecessor-version":[{"id":52752,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/posts\/52751\/revisions\/52752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media\/40554"}],"wp:attachment":[{"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/media?parent=52751"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/categories?post=52751"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nsemgh.com\/api-json\/wp\/v2\/tags?post=52751"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}