Exim Bank tasked with forming a strategic partnership with the National Development Bank to support cross-border trade

The Ghana Eximbank has been tasked with forming a strategic collaboration with the newly established National Development Bank to support the country’s export-oriented interventions.

Speaking at a short inauguration ceremony for the company’s board of directors, Minister of State at the Ministry of Finance Charles Adu Boahen instructed the board to chart a new course to boost the economy through to export trade.

The establishment of a development bank according to the Ministry of Finance is influenced by the government’s quest to provide sustainable financing to complement Eximbank’s efforts in reviving the economy.

Eximbank Ghana’s new board chaired by Kwadjo Boateng Genfi is expected to form a strategic partnership with the National Development Bank and other partners to increase government support to the private sector in the area of ​​export promotion and development. industrialization.

Charles Adu Boahen believes this will help the country take full advantage of the African Continental Free Trade Area.

“This opens a new opportunity for Ghana Exim Bank to forge strategic partnerships with the National Development Bank for the financing and deployment of innovative pipeline projects that would boost Ghana’s import substitution initiatives and export promotion programs. for the realization of the President’s vision of ‘Ghana Beyond Aid’ and the Ghana CARES program, ”he noted.

Eximbank Managing Director Lawrence Agyinsam told Joy Business that the bank is fully committed to helping the country achieve its industrialization agenda and fully benefit from the African Continental Free Trade Agreement.

“We support local industries in the pharmaceutical, agricultural and other sectors of the economy that are already exporting to the African market. We therefore see this as a unique opportunity in which we have an essential role to play ”.

Other members of the board include the Director General of the Federation of Private Enterprises, Nana Osei Bunso; Second Deputy Governor of the Bank of Ghana, Elsie Addo-Awadzie and Deputy Minister of Trade and Industry, Michael Otchere Baafi.