The Ashanti Regional Chairman for the New Patriotic Party, Mr. Bernard Antwi-Boasiako, has praised the government of President Akufo-Addo for being able to secure one hundred- and seventy-million-euro (€170 million) facility for the establishment of a new national bank to fix Ghana’s economy.
Shortly after the Ministry of Finance and the European Investment Bank signed the agreement for establishment of the Development Bank Ghana (DBG) in Belgium, Mr. Bernard Antwi-Boasiako popularly known as Chairman Wontumi commented that the move was a step in the right direction.
DBG is an integral feature of the GH¢100 billion Ghana Cares ‘Obaatampa’ Project, which is seeing to the revitalization of the Ghanaian economy following the onset of COVID-19.
The €170 million facility, according the President of the European Investment Bank, Dr. Hoyer, is the largest facility provided by the European Investment Bank for the establishment of a development bank in Africa or for any other project, for that matter, on the continent.
Speaking at the signing ceremony, President Akufo-Addo noted that “the Development Bank Ghana is going to play a very important part in the rapid economic transformation of Ghana, following the onset of COVID-19.”
Reacting to the news in an interview with Wontumionline.com, Chairman Wontumi noted that the government of President Akufo-Addo has borrowed the money to fix the country and must be lauded for it.
He explained that the devastating effect COVID-19 has had on economies means that governments must be able to find money to sustain and upgrade businesses in their respective countries.
Chairman Wontumi used the United States of America, United Kingdom and Italy as examples of countries borrowing billions and trillions and pumping moneys into their economy to ensure their systems are running.
President Akufo-Addo, in Chairman Wontumi’s view is borrowing to do more for the country and fix the economy.
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