Business News of Tuesday, 25 May 2021Source: www.ghanaweb.com• The Development Bank Ghana is expected to complement the capacity of the Agricultural Development Bank• A cross section of Ghanaians have questioned the need to establish another bank• But government says the bank is focused on providing medium to long term financing to key growth sectors of the economyDirector of Financial Services at the Finance Ministry, Sampson Akligoh has assured the establishment of the Development Bank Ghana will complement the capacity of the Agricultural Development Bank. In an interview on TV3’s Business Focus, Samson Akligoh explained a key focus of the bank is to provide medium to long term financing to key growth sectors of the economy. Adu Boahen believes the bank will offer a key allocation of development capital to critical growth sectors of the economy at a sustainable interest rate and long tenures. Ghana and the European Investment Bank (EIB) last week in Belgium signed an agreement to secure some €170 million for the establishment of the bank. President Akufo-Addo in his remarks affirmed the bank will play a key role in the country’s economic recovery and structural transformation.

Source: GhanaWeb May 25, 2021 13:30 UTC