The Minister of Finance and Economic Planning, Mr Seth Terkper has assured of the government’s commitment to the passage of the bill to give Local Government Borrowing bill to give autonomy to Metropolitan, Municipal and District Assemblies (MMDAs) to borrow and improve service delivery.
He said the bill, when passed, would establish a local government lending agency from which the MMDAs could borrow either short term for cash flow management or long term for infrastructure projects.
“The purpose of Local Government Borrowing bill is to facilitate the borrowing of money by MMDA’s for infrastructure development and the delivery of municipal services,” the minister said.
Mr Terkper stated this at a workshop for four parliamentary select committees to discuss the Public Financial Management and Accountability and the Local Government Borrowing bills in Koforidua last Saturday.
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