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Sunday, October 24, 2021

Ghana Exim Bank is behind the success of 1D1F initiative

Razak Opoku

Razak Kojo Opoku, a member of the New Patriotic Party (NPP), has said financing is considered as the main oxygen and lifeblood of any project, business or policy implementation.

He said ideas without sustainable financing are meaningless, and therefore it is essential to acknowledge and appreciate the role that the Ghana Exim Bank was playing to ensure the success of President Akufo-Addo’s One District-One-Factory project.

In an interview with the Ghana News Agency in Accra, Mr Opoku said the Ghana Exim Bank has been properly aligned with President Akufo-Addo’s industrialisation programme and has over the last four years created a special niche for itself as the main pillar, backbone and primary financing institution for the 1D1F Programme with an estimated amount of over GH¢2.1 billion in loan facilities for the establishment of 122 factories under 1D1F between March 2017 and December 2020.

He said the bank had continued to provide loan facilities to companies under 1D1F in 2021 as President Akufo-Addo is committed to ensuring that before the end of his tenure, at least every district in Ghana could boast of a factory and this move will help to reduce the rate of unemployment in the Country.

Mr Opoku noted that it was important to point out that, the main bodies largely ensuring the financing of all the 1D1F Projects were Ghana Exim Bank and the Ministry of Finance, adding, the Ministry of Trade and Industry and importantly the project Secretariat were responsible for the selection process and coordination of the 1D1F project.

He said it was rightly so for all to also appreciate the service and efforts of Madam Gifty Ohene Konadu as the First National Coordinator for 1D1F Secretariat, who did well in the coordination of the 1D1F project.

He said the success, survival and sustainability of the 1D1F Project would be totally incomplete without the full acknowledgement and recognition of the Chief Executive Officer of the Ghana Exim Bank, Lawrence Agyinsam and his able Board Chairman, Kwadwo Boateng Gyenfi for the sterling leadership they provided to ensure the success and survival of President Akufo-Addo’s One-District-One-Factory initiative.

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