DBG will support all banks in Ghana to have access to long term funds - Akufo-Addo | 3NEWS.com

has urged the newly-launched Development Bank Ghana (DBG) to partner with the private sector, and work with them to provide access to long term funds, access to markets both domestic and foreign, and skills developments.

Speaking duing the aluch of the bank on Tuesday June 14 the Bank will support all banks in the economy to have access to long term funds, including the National Investment Bank, the and the Ghana Exim Bank.

“It will also support private equity funds, and other capital market firms to have access to our bond market, and facilitate equity financing for SMEs,” the President assured.

He further stated that the Bank will partner research institutions to undertake sector research, support innovation centres and business accelerators, adding that “it will ensure that the requisite capital is directed towards business ideas with the most potential for growth and job creation, under the financial services ecosystem”.

He was delighted that the Bank has taken off despite what he described as unfortunate comments made about the plan for its creation.

“A year on, the Development Bank Ghana has seen the light of the day as its foundation will help spearhead the vision of moving our nation, the situation beyond aid which involves positioning the private sector to take the lead in the socio economic transformation of our country and create quality jobs of our young people.

“The idea of setting up the Development Bank Ghana was indeed announced in the 2017 budget statement and economic policy when I first assumed office