Primenewsghana has gathered that government of Ghana is planning to join the National Investment Bank (NIB) and the Agricultural Development Bank (adb) to form the National Development Bank (NDB) which was mentioned in the 2018 Budget.
Finance Minister, during the 2018 Budget presentation in parliament on November 15, 2017, announced that government will launch a National Development Bank to focus on the Agricultural and Industry sectors. Adding that government is planning to launch the National Development Bank with a seed capital of 500 million US dollars.
Sources have said the government of Ghana intends to launch the bank in December or early 2018 to provide cheap credit to players in the agricultural and industrial sectors of the economy.
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The ADB was formed to focus on investing in the agricultural sector but the bank has seen less investment into the sector. The NIB has also struggled to fulfil its main responsibility of investing in the industry sector.
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primenewsghana.com/Ghana News
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