Government urges International Finance Corporation to support more businesses
The Vice-President, Mr Kwesi Bekoe Amissah-Arthur, has urged the International Finance Corporation (IFC) to expand its operations to support more local businesses.
He said although Ghana acknowledged the financial support from the corporation, which he described as significant, it was time for the IFC to expand its financial aid to cover a wider scope of local businesses.
The Vice-President made the call during a courtesy call on him by the IFC Vice-President for sub-Saharan Africa, Latin America and the Caribbean, Mr Jean Philippe Prosper, at the Flagstaff House in Accra yesterday.
Mr Amissah-Arthur said Ghana had seen excellent performances in the various economic indicators over the years and that the contributions of small and medium enterprises (SMEs) could not be ruled out.
He particularly singled out SMEs and called for more assistance for them in order to expand their capacities.
He said SMEs needed to be encouraged and supported to grow, saying that was consistent with President Mahama’s vision to develop the capacities of local SMEs.
For his part, Mr Philippe said the corporation had enjoyed a stronger partnership with Ghana over the years and indicated his commitment to deepen that partnership for mutual benefit.
He expressed happiness at the work of the IFC in the country and hinted that it had projected to spend about $4.5 billion to support sub-Saharan Africa alone this year.
Later, the Director of the International Monetary Fund’s (IMF’s) African Department, Antoinette Sayeh, was at the Flagstaff House to formally extend an invitation to the Vice-President to this year’s regional economic outlook.