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  The Minister of Finance, Mr Ken Ofori-Atta has been explaining why the government was establishing the Development Bank of Ghana. The Ministry of Finance has signed an agreement with the European Investment Bank (EIB) for €170 million for the establishment of Development Bank Ghana (DBG). The signing became possible after a meeting between President Nana Addo Dankwa Akufo-Addo and the President of the EIB, Dr Werner Hoyer, during the former’s official visit to Belgium. According to Dr Hoyer, the facility was the highest provided by the bank for the establishment of a development bank o...

Speaking at the signing ceremony, President Akufo-Addo noted that "the Development Bank Ghana is going to play a very important part in the rapid economic transformation of Ghana, following the onset of COVID-19." According to him, "We want to restructure the economy and move it from being a mere producer and exporter of raw materials to one that places much greater emphasis on value addition activities. We see this Bank (DBG) as one that will play a pivotal role in this." The President indicated that the design and operation of the Bank, "which has been on the drawing...