{"id":752330,"date":"2019-11-26T12:26:46","date_gmt":"2019-11-26T12:26:46","guid":{"rendered":"https:\/\/ghana-mma.com\/2019\/11\/26\/adb-attracts-green-climate-fund\/"},"modified":"2019-11-26T12:26:46","modified_gmt":"2019-11-26T12:26:46","slug":"adb-attracts-green-climate-fund","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/11\/26\/adb-attracts-green-climate-fund\/","title":{"rendered":"ADB Attracts Green Climate Fund"},"content":{"rendered":"

<\/p>\n

\n

Dr John Kofi Mensah, MD, ADB<\/em> <\/strong><\/p>\n

MANAGING
\nDIRECTOR of the Agricultural Development Bank (ADB) Limited, Dr. John Kofi
\nMensah, has said the bank is undergoing the necessary accreditation to be the
\nfirst indigenous bank to benefit from a US$500 million fund from the Green
\nClimate Fund (GCF) for developing countries.<\/p>\n

The GCF has earmarked the amount to be disbursed within the next
\nfour years to developing countries to
\nsupport low-emissions and climate-resilient development in developing
\ncountries. <\/p>\n

\u201cWith assistance from the National Designated Authority under the
\nMinistry of Finance, we are fast tracking the process of being accredited and also get the approval from the
\nGCF as a delivery partner to access the funds,\u201d he said.<\/p>\n

Dr.
\nKofi Mensah was part of a Ghanaian delegation at the private sector facility of
\nthe GCF 24th<\/sup> board meeting held in Inchon, South Korea.<\/p>\n

\u201cBy
\naccessing the grant from GCF which will come at a lower interest rate, the bank
\nwill be well positioned to finance agricultural related and climate smart programmes
\nthat will contribute towards making our environment better and safer,\u201d he said.<\/p>\n

The
\nmeeting afforded them the opportunity to make a presentation to the GCF board
\non ADB\u2019s financial performance over the years, compliance with regulatory standards,
\nstaff capacity, the vision and the five year strategic plan being implemented.<\/p>\n

He
\nalso touched on some climate friendly projects undertaken by the bank including
\nthe five years Rubber Outgrower Plantation Project which saw the cultivation of over 30,000 hectares of land by 8,500
\nfarmers. <\/strong><\/p>\n

The
\nManaging Director revealed that though there had been efforts in Ghana to
\neducate and draw people\u2019s attention to climate change, the difficulty in
\naccessing concessionary funds was serving as a bottleneck for many institutions
\nto vigorously pursue the Green Climate agenda.<\/p>\n

Dr.
\nMensah was optimistic ADB would work hard to access the funds to help Ghana
\ncontribute positively to the Green Climate Agenda.<\/p>\n

He
\nrevealed that through the Ministry of Transport, ADB was going to be the delivery
\npartner for the 400 eco-friendly buses to be purchased for the Accra City
\nElectric Bus project.<\/p>\n

Deputy
\nMinister for Transport, Daniel Nii Kwartei Titus Glover, in a meeting with the management
\nof Zyle Daewoo Commercial Vehicle, manufacturers of the Daewoo buses, said ADB was
\nchosen by government because of its good financial performance and also its
\nexperience in financing the purchase of 150 buses for the Intercity STC Coaches
\nLimited and the Metro Mass Transit Limited.\u00a0\n<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Dr John Kofi Mensah, MD, ADB MANAGING DIRECTOR of the Agricultural Development Bank (ADB) Limited, Dr. John Kofi Mensah, has said the bank is undergoing the necessary accreditation to be the first indigenous bank to benefit from a US$500 million fund from the Green Climate Fund (GCF) for developing countries. The GCF has earmarked the […]<\/p>\n","protected":false},"author":1,"featured_media":752331,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-752330","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nADB Attracts Green Climate Fund - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/11\/26\/adb-attracts-green-climate-fund\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"ADB Attracts Green Climate Fund - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Dr John Kofi Mensah, MD, ADB MANAGING DIRECTOR of the Agricultural Development Bank (ADB) Limited, Dr. John Kofi Mensah, has said the bank is undergoing the necessary accreditation to be the first indigenous bank to benefit from a US$500 million fund from the Green Climate Fund (GCF) for developing countries. 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