Ghana Exim Bank Secures US$100 mln Loan Facility For 1D1F Initiative

The Ghana Exim Bank has secured US$100 million from International Investment Bank (Credit Swiss) to finance more factories under the One District One Factory Initiative.

The loan facility would help extend soft credit to potential firms working to establish industries under the 1D1F as well as complete the existing ones.

Speaking after the agreement was signed at the Ghana Investment and Opportunities Summit in London, Chief Executive Officer of the Ghana Exim Bank, Lawrence Agyinsam said the facility will first go to the Pharmaceutical Industry.

“Receiving US$100 million is a big boost for us to be able to complete and make sure our strategic industries in this country will glitter in the first four years of the president; we are going to use some of this monies to complete seven pharmaceutical companies who are WHO complaint by 2020 this year, we will be able to have 60% of drugs manufactured in this country,” said Mr. Agyinsam.
He added that about 150 small and medium scale factories across the country will be completed this year.

Ghana Exim Bank’s vision is to become a strong financial institution that will be a key engine in the development of Ghana’s export trade, facilitate cross border trade and make Ghana a pillar in regional and continental trade.

Credit: Classfmonline

One thought on “Ghana Exim Bank Secures US$100 mln Loan Facility For 1D1F Initiative”

  1. Good afternoon sir’s we have applied for loan under 1D1F since last year we have an acknowledgement letter from the bank but we have since not heard from the bank.
    we have submitted our businesses plan,registrar EPA report Capital valuation report member of the AGI Geological investigation report Lands commission Lease tile no 25109 and serial no 148/2020
    confirm letter from municipal chief Executive and other documentwe have been submitted to the bank we are into quarry business and other plans which are all captured in the business plan, I have worked with Balfour Beatty Civil engineering at London and have all the experience to contribute my cotter to the national development it’s my prayers that you speed up the process


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