Development Bank Ghana targets 1 billion cedis funding for commercial banks [Video]

Development Bank Ghana has revealed that it is working to advance 1 billion cedis to commercial banks and participating financial institutions this year to support some sectors of the economy.

Chief Executive of Development Bank Ghana, Kwamina Duker, who disclosed this to JOY BUSINESS in Washington DC on the sidelines of the Annual IMF /World Bank Spring meetings, noted this part of their efforts to provide long-term funding to the commercial banks for on-lending to the private sector and sectors described as crucial to the development of Ghana’s economy.

“ Since we started operations we have advanced 1 billion dollars through our participating financial institutions to the private sector, and we intend to increase to 2 billion before the end of this year, ” the Development Bank’s Chief Executive maintained.

This he maintained could make Ghana one of the biggest lenders in the country when it comes to long-term funding.

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