Business News of Wednesday, 19 May 2021Source: www.ghanaweb.com• Ghana has secured €170 million for the establishment of a new national bank• Akufo-Addo said the bank would be pivotal for the economic transformation of Ghana in the wake of the COVID-19 pandemic• The Ministry of Finance and the European Investment Bank signed the agreement on Wednesday May 19, 2021 in BelgiumPresident Akufo-Addo has said the establishment of a new national bank, the Development Bank of Ghana (DBG) will play a significant role in the rapid economic transformation of the country in the wake of the COVID-19 pandemic. His remarks come after Ghana through the Ministry of Finance secured some €170 million from the European Investment Bank for the establishment of the bank. “The Development Bank Ghana is going to play a very important part in the rapid economic transformation of Ghana, following the onset of COVID-19. Akufo-Addo commended the President of the EIB, Dr. Werner Hoyer for the facility and urged for further long term partnerships between Ghana and the EU. Finance Minister, Ken Ofori-Atta had earlier disclosed that the Development Bank Ghana will commence operations in July this year.

Source: GhanaWeb May 19, 2021 17:15 UTC