China's over $15bn not loan but 'joint venture' – Bawumia

The Vice President Dr. Mahamudu Bawumia, says the over fifteen-billion-dollar Memorandum of Understanding investment financing reached with the Chinese government on his recent visit to Beijing is not a loan, but a new financing model which will not add a cent to Ghana's current debt. 

Speaking at the first Ghana-China Relations Conference organized by the Institute of Democratic Governance (IDEG) in Accra, Dr Bawumia said the new financing model is designed to leverage on Ghana's natural resources especially bauxite to unlock the potentials of the country's natural resources.

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GBCONLINE