News Column

Italy Supports SME Development in Ghana

June 2, 2014

Eight eligible companies have received approval to access a E10 million received by the Government of Ghana as the second tranche of a E22 million loan facility provided by the Italian government for the development of Small and Medium Enterprises.

The main component of the facility is a soft loan of E20 million to be used to establish a credit facility for Ghanaian entrepreneurs while E2 million have been earmarked for the management of the credit facility and the implementation of additional activities such as capacity building courses, micro-projects and the development of industrial cliaters in various parts of the country.

According to the Minister for Trade and Industry, Hon. Haruna Iddrisu, who made these known at a news conference in Accra, yesterday, the E22 million was additional to an earlier provision of E11 million disbursed between 2004 and 2008 for the establishment of the Ghana Private Sector Development Facility project.

Hon. Iddrisu urged the beneficiaries of existing financing facilities to ensure that they kept to the scheduled payment and to work with the team of experts managing the project.

He expressed gratitude to the Italian for its support to the development of the SME sector in Ghana.

In her remarks, the Australian High Commissioner to Ghana, Mad. Laura Karpini, said funding for the approved projects was being provided by Italy within the framework of Corporation for Development between the Italy and Ghana.

Mad. Laura Karpini said the meeting provided a unique opportunity for the two countries to renew their willingness to proceed with the best intentions of mutual co-operation.

Source: ISD (G.D. Zaney)

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Source: AllAfrica

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