Development Bank Ghana Receives Operational License – Ken Ofori-Atta
Finance Minister, Ken Ofori-Atta has revealed government has formally received its operational licence for the establishment of the Development Bank Ghana.
According to him, the DBG is expected to provide a powerful response to a long-standing desire of our businesses to easier access to medium and long-term loans at affordable interest rates.
Delivering the 2022 budget statement before Parliament on Wednesday, Ken Ofori-Atta said, “Mr. Speaker, I have great news. On Friday, November 12 2021, The Governor of the Bank of Ghana formally handed over the license for the Development Bank Ghana.
“Not only will DBG, as a wholesale bank provide loans to financial institutions, it will also provide partial credit guarantees to complement the efforts of GIRSAL in agriculture and agribusiness.” Ken Ofori-Atta revealed.
“Mr. Speaker, following the extensive financial sector reform coupled with the establishment of the Development Bank Ghana, the conversion of the Ghana Amalgamated Trust (GAT) into a permanent investment vehicle we now have a robust financial ecosystem that will support businesses from the early to mature stage,” he told lawmakers.
The presentation of the 2022 budget, is in accordance with Article 179 of the 1992 Constitution and section 21 of the Public Financial Management Act, 2016 (Act 921).