Exim Bank Ghana declares 2019 ‘year of action’

Exim Bank Ghana, the main financier of government’s flagship project, One District, One Factory (1D1F), has declared 2019 a year of action.

The bank says projects that it has financed will be revealed this year, confident that Ghanaians will appreciate its support of government projects.

Speaking to Joy News’ Richard Kwadwo Nyarko, CEO of the bank, Lawrence Agyensam, explained that the bank was on course to actualise the dreams of President Addo Dankwa Akufo-Addo in making Ghana an export-led economy.

He revealed that the bank has increased its initial approval of projects under the 1D1F projects from 13 to 71 and by the end of 2019, it hopes to scale up the number of projects to about 100.

CEO Ghana EXIM

“As at August 2018, projects totaling 71 had been approved by the Exim Bank Board and disbursement made. Actual disbursement in terms of working capital now stands at 400 million,” he explained.

Following a visit of the officials of the bank to many EDAIF projects, now Exim Bank-funded projects, Lawrence Agyensam is convinced 2019 looks promising because the footprints of the bank are all over the country.

“We have traveled across the country and inspected, completed works, projects near completion and projects that have started. We are committed to living the dreams and vision of the president and we dare say that all that the bank has funded would produce the needed results,” he said.

The Exim Bank CEO also outlined projects aimed at supporting the rural poor and other rural sector-driven projects.

According to him, apart from the funds used to support the 1D1F projects, the bank has come up with a project called Grassroots Initiative Development Project which comprises six key areas.

The Shea Empowerment Initiative is expected to support the development of the shea industry while the Kente Development Project is expected to add a special touch to the development of the Kente fabric and to help open up the industry to the outside world.

The others include the Youth in Greenhouse Enterprise Project where 100 greenhouses would be installed to help solve some of the perennial challenges with vegetable production in the country; and the Mining Alternative Livelihoods Project that will support the youth in the mining areas of the country to redirect their focus into the agricultural sector.

Source: www.myjoyonline.com