World Bank approves $250m for Ghana to set up development bank

World Bank has approved an aid package of 250 million U.S. dollars to support Ghana set up a development bank.

This was contained in a release on Friday October 30,2020 by the Executive Board of the World Bank.

The Development Bank of Ghana (DBG) is set to increase access to long-term finance to boost job creation for over 10,000 enterprises in critical sectors of the economy.

The Agribusinesses, manufacturing, and high-value services will benefit from the establishment of the bank in Ghana.

World Bank country Director for Ghana, Pierre Laporte,  said the aid for the DBG is an integral part of efforts by the global lender to promote sustainable growth in the country.

“By offering long-term wholesale financing, credit guarantees, and other services, the Ghana development finance project will help increase overall lending to priority sectors and market segments,” He said.

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