ADB to collaborate with Devt Bank to finance agribusiness

Story: I. Kofi Owusu TAWIAH

The Agricultural Development Bank (ADB) is looking forward to a closer collaboration with the new Development Bank Ghana (DBG) to push its agenda of agribusiness financing.

The anticipated areas of collaboration include grant of financial assistance through ADB to medium and long-term industries.

Deputy Minister of Finance, Dr. John Kuma, said this when he inaugurated a nine-member reconstituted Board of the Bank in Accra.

The Board includes Daasebre Akuamiah Agyapong II; the Kwahuhene and the President of the Kwahu Traditional Council as Chairperson, Dr. John Kofi Mensah; the Managing Director of the Bank as a member and Mrs. Abena Osei – Asare , a Deputy Minister of Finance.

Other members are Madam Mary Abla Kessie; a lawyer, Mr. George K. Abankwa-Yeboah; a Pharmacist and Mr. Alhaji Habib Iddrisu; an entrepreneur.

The rest are Mr. Evron Rothschild Hughes; a Development Economist, Professor Peter Quartey; an Economist and Prof. Eric Yirenkyi Danquah; a Plant Geneticist

The Minister said ADB would also explore professional technical support services to assist with projects to be domiciled at both DBG and the financial institutions

“As espoused by the law establishing it, we at ADB are excited about the new DBG, in the true sense of its purpose that will among other benefits, bridge the existing gap between commercial banking and Ghana’s developmental agenda,” he added.

He expressed the hope that the benefits that would emerge from a collaboration between ADB and DBG would help channel private investments into productive sectors, new technologies and help accelerate market efforts to achieve the sustainable development goals.

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