The Ministry of Finance has credited GH¢350 million from the Contingency Fund to the designated National Disaster Management Committee accounts in order to fund emergency flood relief and mitigation activities in the wake of catastrophic flooding that has impacted several regions of the nation.
The transfer comes after President John Dramani Mahama instructed Dr. Cassiel Ato Forson, the Finance Minister, to deploy funds from the Contingency Fund in order to bolster flood protection measures and help emergency relief efforts.
The withdrawal from the Contingency Fund was first approved by parliament through the Finance Committee, in accordance with Article 177 of the 1992 Constitution.
The Controller and Accountant-General were given permission by the Minister for Finance to release and transfer GH¢350 million from the Contingency Fund to the National Disaster Management Committee in order to carry out the National Emergency Flood Response Program after Parliament gave its approval.
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The Controller and Accountant-General formed a specific National Disaster Management Committee account at the Bank of Ghana and deposited the entire GH¢350 million into it in accordance with the Minister’s directive. As a result, the authorised amount has been fully credited to the specified account.
Of the total, GH¢150 million will be used to implement flood mitigation measures intended to lessen the frequency and severity of floods, while GH¢200 million would be used to fund immediate relief efforts for flood victims and affected communities.
President Mahama’s order for an immediate government response to the flood disaster is put into effect via the transfer of cash, which supports long-term initiatives to lessen the effects of future flooding while promptly aiding impacted areas.
Source: newsthemegh.com