Dr. Apraku Calls For Establishment Of Export Investment Bank

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Re-emphasizing his earlier point, Dr. Apraku stated ‘it is on the basis of the persistent poor performance of the external sector, the intensity of the macro-economic ills afflicting our country, and the increasing vulnerability of our economy, that I am appealing to the government to initiate a feasibility study aimed at the establishment of the Ghana Export and Investment Bank.

According to the Presidential Aspirant, the Bank’s mission would be to enhance the economic growth of Ghana by providing funds on concessionary interest rates for the development of the country’s export sector. It would also finance investments that are focused on production for export. The Bank would among other services have an Export marketing services Program to assist Ghanaian companies in the identification of prospective business partners, export opportunities and facilitating placements of final orders.

He recommended that the initial seed money for the Bank should include the funds that are currently available to MASLOC, EDIAF, Ghana Export Finance Company and perhaps, funds available at other publicly owned Banks.

In his response to Dr. Apraku’s suggestion, the current Minister of Trade and Industry, Hon. Haruna Iddrisu who also addressed the forum, stated that he had been directed by the President to work towards converting the EDIAF fund into a Ghana Export-Import Bank within the next five years.

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