Parliament has approved two loan agreements totaling 36 million Euros between the government of Ghana and HSBC Bank PLC to finance the implementation of the Rural Communities and Small Towns Water Supply Project in five regions in the country.

The regions include; Ashanti, Eastern, Greater Accra, Oti and Volta and covering a total of 114 communities in the regions.

This follows the adoption by the House of the report of the Committee on Finance on the two loan agreements today.

Presenting the report, Chairman of the Committee on Finance, Dr Mark Assibey-Yeboah said the Committee has observed that the successful implementation of the project will help improve the health and social status of the people.

Seconding the motion for the approval of the loan, the MP for Ho Central, Benjamin Kpodo lauded the project but said the cost of implementing the project is too high especially regarding an amount of 6 million Euros as insurance premium on the loan.

The MP for Effutu, Alexander Afenyo-Markin said the water supply project to be carried out in the beneficiary regions is an indication of equitable distribution of the national cake by government.