What Form 8655 Electing 2024

From the China Development Bank (CDB), discussions have been held with Vice President Mr. John Mahama in Accra. It is a follow-up to an earlier meeting between the two parties. The first tranche of the three billion dollar CDB loan is being released and will be used for the gas development project in the western region. Mr. Shue, the Vice President of CDB, and Vice President of Ghana Mr. John Dramani Mahama met in April to discuss the three billion dollar loan from the bank to Ghana. In that meeting, the Vice President led a delegation to China to sign the master facility agreement, signaling the release of at least one-third of the amount. A reciprocal visit by the Chinese is planned to finalize some of the technical details of the deal. The CDB loan is being used to harness gas resources from the Jubilee oil field in the western region. Additionally, some of the money will be used to improve the Western Railways for better transportation. The deal also includes the construction of sustainable communities and the implementation of multimodal transport on the Volta lake, among other projects. During his visit, Mr. Shue expressed his pleasure at meeting Vice President Mahama and other government officials. He emphasized that the CDB is committed to implementing the projects outlined in the agreements signed in April. However, he mentioned some frustration with the slow progress due to Ghana's transparency rules and procedures that require parliamentary approval before proceeding. Despite these challenges, Mr. Shue believes that the gas project, managed by the newly established Ghana National Gas Company, will help provide Ghana with a more stable power supply. Ghana's reliance on the West African gas pipeline, which is heavily dependent on Nigeria, has led to inconsistent power supplies. The three billion CD loan from CDB is...