Home / GENERAL NEWS / Parliament approves over GH¢2 billion for GETFund for year 2022

Parliament approves over GH¢2 billion for GETFund for year 2022

GETFund to terminate contracts of abandoned projects

GETFund earmarked to cater for projects under tertiary sub-sector

GH¢100 million allocated for sponsorship for students to pursue various programs

Parliament has approved an amount of two billion, six hundred million, eight hundred and two thousand, two hundred and seventy-five Ghana cedis (GH¢2,600,802,275) for the GETFund for the year 2022.

The said amount has been allocated across various levels of education in line with the government’s objective of improving access, equity, and quality of education delivery.

Per the distribution formula, the approved budget will cover tertiary education, second cycle education, basic education, completion of school projects, scholarships, debt service, shortfall recovery and emergency projects and monitoring.

In a report by the Committee of the Whole presented on the floor of the house, the committee was informed that the target is to achieve an 80% completion rate in the next three years.

In view of this, the GETFund has taken ownership of all ongoing projects at all subsectors to facilitate their completion.

The GETFund will achieve this objective through a funding mix of bonds and GETFund Levy allocation.

Meanwhile, the report also revealed that the GETFund intends to terminate the contracts of the contractors of abandoned projects and re-award them to credible contractors who will complete them on schedule.

Source: www.ghanaweb.com

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