Government spokesperson **Felix Kwakye Ofosu** has given an update on the Exim Bank loan facility granted to Wontumi Farms, which was discussed during today’s Government Accountability Studies session led by **Dominic Ayine**.
According to the Attorney-General, Exim Bank approved a medium-term loan of **GHC 18,734,260.00** for **Wontumi Farms** on **January 16, 2018**. The loan was requested by **Bernard Antwi Boasiako**, the chief promoter of Wontumi Farms, and included a grant of **GHC 6,768,260.00**. The loan agreement was formalized in a letter dated **January 23, 2018**, with **Chairman Wontumi** acting as the CEO of Wontumi Farms Limited and **Thomas Antwi Boasiako** as the company’s director.
The loan, which was secured against **10,000 acres of Wontumi Farms’ land** at **Asare Nkwanta**, was granted under specific terms and conditions set by the bank. The breakdown of the loan as outlined in the offer letter is as follows:
* **GHC 3,865,000.00** for purchasing agricultural machinery and equipment
* **GHC 8,101,000.00** for working capital
* **GHC 6,768,260.00** grant for staff costs and consultancy fees.
The spokesperson’s update provides additional clarity on the purpose and structure of the loan, emphasizing that all approvals and terms were officially documented and legally executed.
Source: MyNewsGh.com
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