Exim Bank announces GH¢100k MMDAs support fund

The Exim Bank Ghana is to support the Metropolitan, Municipal and District Assemblies (MMDAs) with GH¢100,000 each to promote the export drive of the government.

The support which is expected to start in July this year will be mainly in the form of capacity building, identification of an exportable product and the development of a business plan, among others.

The Chief Executive of the bank, Mr Lawrence Agyinsam, announced this at a conference on the implementation of the national export strategy in relation to the one-district, one-export product in Koforidua in the Eastern Region last Wednesday.

He, however, said the full financing of the project would start after the identification of the exportable product by the MMDAs.

The one-day conference wasorganised by the Ghana Export Promotion Authority (GEPA) and attended by municipal, district chief executives, coordinating directors and planning officers drawn from the Eastern Region.

Exportable products
Mr Agyinsam said the bank had identified four exportable products, namely poultry, oil palm, cashew and cassava which needed support and, therefore, urged the participants to work hard to enable the project to succeed.

In view of this, he said between GH¢60 million and GH¢80 million had been earmarked towards the development of those of the four exportable products.

He warned that any MMDA that failed to do due diligence in the management of the financial support would be blacklisted, especially when found to have diverted, misapplied and misused the funds.

“You are agents of change and I, therefore, challenge you to work hard to make Ghana an export-led economy so that more jobs would be created for the unemployed youth,” he added.

Mr Agyinsam gave an assurance that the bank would continue to support the developmental drive of the country.

The Chief Executive Officer of GEPA, Mrs Gifty Kekeli Klenam, said the authority was currently undergoing certain structural and fundamental realignment in order to be able to handle the new responsibilities.

She said it was the vision of GEPA to operate regional offices that would have district representatives who would see to the full implementation of the one-district, one-export product concept.

“We want to see to the full implementation of this project to help us achieve the target we have set for ourselves – to develop and promote exports vigorously to achieve the $10b in four years,” she added.
She, therefore, entreated the participants to help make the dream a reality.

The Eastern Regional Minister, Mr Eric Kwakye Daffuor, was happy that the ‘Planting For Food and Jobs Programme’ had successfully taken off in the region with the required inputs supplied to farmers.

 

Read Full Story