EuropaWorld 1/12/2000 EIB makes EUR 10 million Available for Business Development in Ghana

The European Investment Bank (EIB), the European Union's long-term financing institution, is lending EUR 10 million from risk capital resources to two financial institutions in Ghana for on-lending to the private sector to finance small and medium-scale investments. The financial intermediaries are Ecobank Ghana Ltd and SSB Bank Ltd. These banks will make the money available in smaller loans in Ghanaian currency to viable projects. This is the first time an EIB global loan scheme has been made available to banks in Ghana and should contribute to development there.

The objective of the EIB loan is to respond to an increasing demand for the financing of investments from smaller Ghanaian businesses and export oriented enterprises. It will contribute to the development of the private sector in Ghana by stimulating employment creation and diversifying economic activities across a wide range of sectors.

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