Next year will see the coming into existence of a new bank, National Development Bank (NDB), the Minister of Finance has revealed.
Ken Ofori-Atta says already feasibility study for the establishment of the bank, specifying its rationale, mandate, business model, legal and regulatory framework, ownership, governance and sustainability has been been completed.
He made this known in Parliament on Wednesday, November 13 when he delivered the 2020 economic statement and financial policy of government.
He said $250 million has been secured from the World Bank for the start of operations of NDB in 2020.
“The National Development Bank as envisioned will refinance credit to industry and agriculture as a wholesale bank; and also provide guarantee instruments to encourage universal banks to lend to these specific sectors of the economy,” he said.
More soon
Source: 3news.com|Ghana
The post Gov’t to set up National Dev’t Bank in 2020 appeared first on 3news.
Read Full Story
Facebook
Twitter
Pinterest
Instagram
Google+
YouTube
LinkedIn
RSS