Business News of Sunday, 31 March 2019Source: Kwabena Danso-dapaahGovernment, EXIM Bank to support 1D1FThe Boaso Processing factory has received funding to complete constructionThe government has released funds to ensure full completion of the Boaso Bamboo Processing Factory under flagship policy of One-Distric-One-Factory in the Atwima Nwanbiagya District in the Ashanti Region after several concerns by the people in the region. This came to light after the Chief of the Boaso, Nana Kofi Bimpong II had several meetings with the Trade and Industry Ministry and later disclosed to journalists the government's commitment to pump money into the project. "The government and Exim Bank have agreed to give me a loan of One Million dollar to enable me complete my project", the Chief told reporters after taking reporters to the project siteEarlier, a team from the Exim Bank had also visited the site to acquaint themselves and assess the project worth billions of Cedis indicating funds will be made available soon for the project completion. The policy aims to transform the structure of the economy from one dependent on production and export of raw materials to a value-added industrialised economy, driven primarily by the private sector. He said there could be no future prosperity for the people in the short, medium or long term “if we continue to maintain economic structures that are dependent on the production and export of raw materials.”

Source: GhanaWeb March 31, 2019 18:11 UTC