1.7 billion Ghana Cedis Disbursed to Companies Under 1D1F since 2017- Trade Minister
Trade and Industry Minister, Alan Kyerematen has said that government has financially supported 172 companies under the 1D1F initiative with 1.7 billion Ghana Cedis since 2017.
This, he said was done in collaboration with some selected financial institutions.
The 1D1F policy is a private-public initiative of the Akufo-Addo led administration which is aimed at industrializing the economy with a factory at every district in the country.
Speaking in an interview with a local station, Mr. Kyerematen mentioned that 1.7 billion cedis have been given out to companies under the initiative.
“The amount disbursed is channeled through the private finance initiative (PFIs) as interest subsidies or counterpart financing for loan facilities that are provided to the 1D1F companies. The PFIs include the following, Ghana Exim Bank, The Ghana Commercial Bank Limited, Prudential Bank Limited, Societe General Ghana, Universal Merchant Bank, ADB Ghana Limited, ECOBANK, Pheonix Africa Capital Management, Standard Chartered Bank, Frontline Private Equity Limited and Consolidated Bank Ghana, ABSA Ghana, CAL Bank Ghana Limited and Fidelity Bank Limited” he noted.
In December last year, Trade and Industry Minister, Alan Kyerematen said about 200 projects are at various stages of implementation under the government’s 1DIF programme.
What will be the benefit of the 1D1F Policy?
Apart from the many jobs that will be created due to the 1D1F policy programme, there would also be tax exemptions and tax holidays for a period of five years for operators under the programme.
The policy will also industrialize the economy with every factory in all districts in the country.