Mr Kwasi Karikari Achamfour, District Chief Executive (DCE) of the Afigya-Kwabre District Assembly, said the assembly would access a loan from the HFC Bank to undertake certain projects for the rapid development of the District.
He said the acquisition of the loan would be guaranteed by the Ministry of Local Government and Rural Development and Environment.
The decision was unanimously taken at a Third Ordinary Assembly meeting held at Kodie, the District's capital on Friday.
Mr Achamfour said the idea of accessing the loan was in the right direction because the District Assemblies' Common Fund (DACF) and Internally Generated Fund (IGF) would not help it to provide accommodation for its office staff and to attract investors to the District.
He said the Assembly had received its share of the DACF which amounted to 296.817.00 Ghana cedis and a refund from the Sekyere South District also amounting to GH¢63,080.00 bringing it to a total of GH¢359,817.08.
The DCE said out of the amount, a total of GH¢257,398.89 was deducted at source to cover the National Youth Employment Programme, Fumigation, Waste Management, Rural Electrification and NALAG dues among other things.
Mr Achamfour said there was an over deduction of GH¢30,000 credited to Prefos Company stressing that the Assembly had had no dealing with the company for, which deduction had to be made.
He said the Assembly had embarked on a number of projects, which included the construction of a three-classroom block at Adwumakaase-Kese and the rehabilitation of the rented premises to house the Directorate of Health and the Agriculture Departments at Boamang.
The DCE said other outstanding works included the completion of a six-classroom block at Kwamang and the rehabilitation works on an Area Council building at Boamang.
He commended the Assembly members for their cooperation and expressed the hope that they would continue to support him at all levels of the Assembly's engagement to enhance the socio-economic development of the District.