Former President Jerry John Rawlings has welcomed the government of Ghana intension to establish National Development Bank (NDB) this year.
He has however appealed to the government to use the Bank to serve the interest of deserving Entrepreneurs irrespective of their tribe and warned the government not to monopolize it.
The Former President, who was the architect of the June 4, 1979, and 1981 revolutions made these remarks at a durbar to mark the 38th anniversary of the 31st December Revolution in Winneba.
The government of Ghana has secured $250 million from the World Bank for the start of operations of the National Development Bank (NDB), in 2020.
Mr. Ofori-Atta, Finance Minister said the new bank, which comes after the establishment of the Consolidated Bank, Ghana (CBG) in 2017, will be independent with a strong corporate governance framework.
The Minister said this in Parliament when he delivered the 2020 economic statement and financial policy of the government.
He added that it will be globally rated ‘to enable it to leverage foreign capital for industrial and agriculture development in the country”.
“It is expected that the National Development Bank will provide cheaper and long term funding for the growth and expansion of key companies operating in the agriculture and industry sectors.”
“It is expected that the National Development Bank will provide cheaper and long term funding for the growth and expansion of key companies operating in the agriculture and industry sectors. The development bank will also lend through specialized banks to key anchor industries at the Metropolitan, Metropolis and District Assemblies level to support the Governments IDIF initiative.”
Source: Kofi Atakora
