The much anticipated state own Bank that was planned by the Akufo since last year to help boost economic recovery of the country is finally coming into fruition as €170 million has been secured for that purpose.The Covid-19 pandemic threw the Economy out of gear and one of the tools the government wants to use is to set up a development bank.
Kojo Oppong Nkrumah, Ghana's Information Minister, has defended the government's decision to establish a new national bank, the Development Bank of Ghana (DBG). On Wednesday, May 19, 2021, the Ministry of Finance and the European Investment Bank (EIB) signed an agreement to provide a €170 million facility for the establishment of the new national bank.
The ministry of Finance and the European Investment Bank have inked an agreement for the making available of €170 million facility to enable the establishment of a new national Bank, the Development Bank Ghana (DBG). The Development Bank of Ghana is an integral feature of the 100 billion Ghana Cares, the infamous 'Obaatampa' Project, which is to aid in seeing the rejuvenation of the Ghanaian economy with regards to the unannounced outbreak of the Covid-19 pandemic.