EDAIF disburses GH¢47.5 m to 13 beneficiaries

The Export Trade, Agricultural and Industrial Development Fund (EDAIF) disbursed GH¢47.58million in grants and credits to 13 beneficiaries to support their economic ventures in various sectors of the economy during the month of August.

A statement signed by Chief Executive Officer Dr. Barfour Osei said a grant component amounting to GH¢31.3million was approved to eligible firms for both public and private sector initiatives in export trade and agricultural and industrial development.

He said four firms received a total of GH¢16.2million in loans for the acquisition of equipment and spare parts for recycling liquid and solid waste into compost and other usable by-products, as well as the production of alcoholic beverages and expansion of pineapple production for export.

The facility will enable beneficiaries to acquire additional equipment for fish processing, establishment of a shea butter processing facility, construction of a smock-weaving community centre, and the establishment of community-based oil mills and several others.

The Export Development and Agricultural Investment Fund (EDAIF) is an agency of the Ministry of Trade and Industry of the Government of Ghana. It was established in October 4, 2000 under the Act 582, the fund aims to provide financial resources and assistance for the development and promotion of export trade of Ghana.

In 2011, the fund was amended and expanded to include the development and promotion of agriculture, related to the agro-processing industry, hence the change of name to include “Agriculture”. Per the new bill passed early this year, EDAIF now provides funds for export trade, agriculture and Industrial development.