US $250 million approved by world Bank for the establishment of development Bank Ghana

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According to Myinfogh, the world Bank board of executive Directors in their attend to help increase access to long term finance and boost job creation for 10,000 enterprises in key sectors including agribusinesses, manufacturing and high value service has approved US $250 million from the international development association (IDA) to support the establishment of the Development Bank of Ghana (DBG) also known as National Development Bank.
The Development Bank of Ghana will finance multiple interventions to attract private sector financing for credit-constrained MSMEs and small company based in Ghana.
“These interventions will include the establishment of a Partial Credit Guarantee facility and a digital financing platform to leverage private sector financing by making it more efficient and less risky for private financiers to lend to MSMEs,” said Carlos Vicente, World Bank Senior Financial Sector Economist.
The Bank is expected to act as an independent institution with a strong corporate governance framework and would be globally rated to enable it to leverage foreign private capital for industrial and agriculture development in the country.

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