1D1F: Funding secured for 54 factories so far, EXIM bank responsible for 35 of the projects-Coordinator

Share this

National Coordinator of one of government’s flagship programmes, the One District One Factory initiative, Gifty Ohene Konadu has revealed that so far funding has been secured for the construction of some 54 factories across the country.

The funding according to her has been made possible by the various banks in the country including, the Export and Import (EXIM) Bank, Universal Merchant Bank (UMB), GCB Bank Limited, and Societe-General.

Of the 54 projects, Exim bank alone is responsible for about 35 or more while the remaining projects have been shared among the other banks.

Madam Ohene Konadu said Agricultural Development Bank (ADB) was also coming on board to support other projects.

According to her, the 54 projects are at various stages of construction, explaining that every project which funding has been secured is at some stage of construction and that very soon, the factories would be erected as physical and operational edifices for all to see.

She said with the massive and tremendous support the initiative has received from the generality of the Ghanaian people and the significant support it has received from the banks, the initiative is rapidly progressing, and that by 2020 every district would get a factory.

The 1D1F national coordinator added that some districts would even get more than one factory in the end.

‘’This whole initiative is a bottom up approach, you will identify your project or bring your concept, we veto and examine it and if it is viable then we help source funding for it. If there are other things we need to do like helping get electricity, water and other facilities then we assist with all that’ she added.

Source: BestNewsGH.com


Share this

Kennedy Mornah is an Award Winning Ghanaian Journalist with over two decades of experience in the Ghanaian Media landscape spanning the electronic, print and digital media. He is a Media Consultant, a Corporate MC, Radio and TV Host, Founder and Publisher of the Maritime and Transport Digest Newspaper, Businessman, a Go getter and an optimist. He has worked for renowned media organizations including Diamond Fm in Tamale, Luv Fm in Kumasi, Oman Fm in Accra and Starr Fm in Accra In 2017 he received the Reporter of the Year Award at the Ghana Shippers Awards in Accra, Ghana.

Leave a Reply


This site uses Akismet to reduce spam. Learn how your comment data is processed.