Development Bank gets BoG license, to begin granting long term loans at affordable rates-Minister

The Bank of Ghana has granted a banking license for the establishment and operation of the Development Bank Ghana (DBG).

The license was granted to DBG on November 12, 2021, Finance Minister Ken Ofori-Atta has revealed.

According to him, the government will provide a powerful response to a long-standing desire of our businesses to easier access to medium and long-term loans at affordable interest rates.

”Not only will DBG, as a wholesale bank provide loans to financial institutions, it will also provide partial credit guarantees to complement the efforts of GIRSAL in agriculture and agribusiness,” he assured.

The Minister added that following the extensive financial sector reform coupled with the establishment of the Development Bank Ghana, the conversion of the Ghana Amalgamated Trust (GAT) into a permanent investment vehicle, we now have a robust financial ecosystem that will support businesses from the early to mature stage.

By: Rainbowradioonline.com/Ghana

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