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Expansion of SMEs: BIDC grants a $200 million line of credit

15/05/2024
Source : ORISHAS-FINANCE
Categories: Sectors

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Ghanaian President Nana Akufo-Addo announced last Monday that the ECOWAS Investment and Development Bank (BIDC) has granted a 200 million dollar line of credit to Ghana to support the expansion of small and medium-sized enterprises (SMEs).

Les fonds accordés par la BIDC seront servis aux PME ghanéennes qui génèrent environ 80% des emplois et près de 60% du PIB, par l' intermédiaire de la Ghana Commercial Bank and the Ghana Export-Import Bank. Indeed, the Ghanaian president indicated at the African Fintech Summit “3i Africa” held in Accra that the Ghanaian Minister of Finance and the President of the BIDC signed last Friday in Togo a memorandum of understanding on a 200 million dollar credit facility that will be disbursed through the Ghana Commercial Bank style="font-family: "Bookman Old Style”, "serif"> and the Ghana Export-Import Bank (GEXIM Bank) in favor of SMEs, as part of the objectives to ensure the access of SMEs to funding. This funding brings the total of the BIDC's commitments to Ghana to $600 million

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