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Wednesday, 16 July 2014 | MYT 11:46 PM

Ghana will not draw second half of $3 billion China loan- govt

ACCRA (Reuters) - Ghana will not draw the remaining $1.5 billion (0.87 billion pounds) tranche from a $3 billion loan agreed with China in 2011, Ghana's finance minister said on Wednesday.

Seth Terkper said the remainder of the loan had been cancelled due to "challenges that we have had in coming to an understanding with CDB (China Development Bank)".

The loan was due to finance infrastructure projects, including development of the oil and gas sector.

(Reporting by Kwasi Kpodo; Writing by David Lewis; Editing by Emma Farge)


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