1D1F: Government negotiates with banks for special interest rates for investors
Government is negotiating with banks to have special interest rates for potential investors with interest in seeking a financial support for establishing a factory under the One District One Factory programme, Coordinator of the programme, Gifty Ohene Konadu has said.
“The Minister of Trade and Industry has begun negotiations with the partnering banks to negotiate on a flexible rate for potential investors who wants to access financial facilities for the programme,” She told journalists in Accra.
Government’s quest to have one factory in every district of the country has been facing various financial challenges hence the move by the Trades Ministry to assist investors.
As part of this year’s International Trade Fair and Exhibition, the Ghana Trade Fair Company earmarked the 3rd day of the event to discuss issues with the one District, one factory programme. Known as the 1D1F Business Seminar, the event served as a platform for financial institutions and potential investors to find ways of financing more projects.
Gifty Ohene Konadu said the government is working with the banks to have a flexible and common interest rate among all the partnering banks.
The secretariat has also disclosed that about seven manufacturing firms have received financial support from the banks this year and will take off soon.
The programme forms part of initiatives by the Trade fair company to support government’s industrialization programme.