Ghana FA refunds $4m World Cup loan to government

Kwesi NyantakyiThe GFA has given back a loan of four million dollars it took from the Ghana government to facilitate the Black Stars’ participation in the World Cup

The Ghana FA has refunded the loan of $4,003,761.08 it received from the government to help fund the Black Stars participation in the 2014 World Cup.

The amount was paid to the Ministry of Youth of Sports Thursday in furtherance of an agreement with government before the tournament in Brazil.

“We wish to recall that prior to the 2014 FIFA World Cup, the Government of Ghana agreed to pre-finance the Black Stars expenses during the competition pending a receipt of the FIFA appearance fees for participating countries.

“In pursuance of the said agreement, an amount of $4,003,761.08 which represents the amount of money government advanced to the Black Stars in Brazil has been paid,” the football governing body of the west African country said in a statement.

The world’s football governing body paid Ghana’s prize-money last week and “the GFA is happy to refund to Government in pursuance of the agreement reached.”

It added: “We wish to emphasise that the amount paid by government to the team was only a loan from Government and not public funds.

“The GFA wishes to thank Government for its continuous support towards the promotion and the development of football in the country.”

Source: Goal

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