Five banks provide funds for 73 1D1F projects

By Lydia
Kukua Asamoah, GNA
   

Accra, Sept. 14, GNA – Five participating
financial institutions under the One District One Factory (1D1F) Programme have
committed various amounts of funds towards some 73 businesses submitted to them
by the Secretariat.

On top of the list is EXIM Bank of Ghana,
which funded 38 projects, the Agricultural Development Bank, gives conditional
approval to 28 projects, GCB Bank has funded the Kete Krachi Timber Recovery
Limited Project to harvest submerged trees in the Volta Lake in addition to
four others.

Additionally, the UMB and the Standard
Chartered Bank have funded one project each.

Mrs Gifty Ohene-Konadu, the National
Coordinator of the One District One Factory Programme, announced this on Friday
in Accra.

She said the factories would be commissioned
as and when President Nana Addo Dankwa Akufo-Addo made time to cut the sod and
commission them. 

She urged Ghanaians to be optimistic about the
programme and be assured that the IDIF “is something that is real and it is
going to work”.

Speaking to journalists on the side-lines of a
stakeholder engagement involving business enterprises on board the 1D1F programme
on the Requirements and Standards, Mrs Ohene-Konadu said, currently, work on
the projects was ongoing at various sites all over the country. 

Among the stakeholders that participated in
the forum were promoters under the 1D1F who have submitted their business plans
and whose projects have either been approved and received funding or are in the
pipeline and ready to receive funding.

The 1D1F Secretariat, in collaboration with
the Ghana Standards Authority (GSA), organised the engagement for the participants
to discuss issues related to standards, certification and other related matters
that affect their upcoming businesses under the 1D1F programme.

Mrs Ohene-Konadu said the achievement of the
goal of economic development through industrialisation, would require strict
adherence to standards, since it formed the fundamental building blocks for
product development.

She said standards also helped to establish
consistent protocols that could be universally understood and adopted and that
would help engender accessibility to both local and international markets,
while simplifying product development.

“This is because it is only through the
application of standards that the credibility of the new products to be churned
out of the factories can be verified. The bottom-line is that the consumers
will have confidence that the products are safe, reliable and are of good
quality”.

Mrs Ohene-Konadu said if consumers were going
to patronise the outputs from the factories, then the Secretariats would depend
heavily on various institutions like the GSA, Food and Drugs Board (FDA), the
Environmental Protection Agency (EPA), among others to provide proactive
standards to guide the business promoters.

“We need to ensure that all factory
environments are non-hazardous and production activities do not harm the
environment in any way. Producing for international markets imposes additional
requirement to meet different cultures, attitude and unique preferences,” she
said.

Professor Alex Dodoo, the Director General of
GSA, said standards were essential to enforcing honesty in trade, adding that:
“Standards are the language in trade” and so factories under the 1D1F would
have to conform to standards so their products would be accepted both locally
and internationally.

He said the GSA was ready to support the 1D1F
programme and promoters with the needed advice and resources that would make
their products meet international standards.

Mr Kofi Essel, the Head of Food and Industrial
Services at FDA, said the Authority was ready to partner with GSA and EPA to
assist the 1D1F promoters to set up and operate within required standards,
ensuring the safety of food, goods and services.   

Mr Augustine Collins Ntim, the Deputy Minister
of Local Government and Rural Development, said the Government was determined
to ensuring the success of the 1D1F programme, which was mainly being
implemented at the district level.

He said the Ministry was, therefore, working
to engage all the metropolitan, municipal and district level officials to train
then and give them the necessary orientation to help them appreciate and
support the projects within their jurisdictions. 

GNA

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