President John Dramani Mahama has charged the new Board of the Ghana Export Import (EXIM) Bank to secure the needed investment for the country’s economic growth.
President Mahama is hopeful the Bank will play a major role in his agenda for the economic transformation in the country.
Speaking at the swearing-in ceremony of the new board of directors of the Bank at the Flagstaff House, the President said, “EXIM is one of the instruments to realise my key vision of an export led growth strategy and I expect that you develop linkages with agriculture and agribusiness as part of your mandate.”
“I am counting on you to deliver on the objectives of the bank,” President Mahama charged the board now chaired by Professor Richard Bani of the University of Ghana with Dr. Baffour Osei as the Acting Chief Executive.
One of the objectives of the bank to take advantage of the various international trade agreements Ghana is signed onto.
Some of these trade arrangements include the Africa Growth and Opportunity Act (AGOA) and the Economic Partnership Agreements (EPAs) but local businesses have struggled to utilise these agreements due to the lack long term patient capital to expand and meet the necessary requirements.
The Finance Ministry has expressed optimism that the availability of long term capital through the EXIM Bank would lead to the expansion of businesses, job creation and the strengthening of the country’s export earnings.
By: Delali Adogla-Bessa/citifmonline.com/Ghana