According to sources familiar with the matter, the board members when approved will pave the way for the Bank to commence its full operations which is expected to take place by the end of July this year. Director of Financial Services at the Finance Ministry, Samson Akligoh had earlier assured the establishment of the Development Bank Ghana will complement the capacity of the Agriculture Development Bank (ADB). Plans to establish the DBG commenced after Ghana secured a €170 million loan facility from the European Commission back in May this year. Finance Minister, Ken Ofori-Atta interacting with journalists after the signing of the agreement explained the loan secured was to be paid in some 15 years. The Development Bank Ghana will serve as a wholesale entity that will offer guarantee investment instruments in order to woo in universal banks to lend to critical growth sectors.

Source: GhanaWeb July 13, 2021 08:02 UTC