World Bank approves US$250M for the establishment of Development Bank of Ghana

GHANA – The World Bank Board of Executive Directors has announced that it has approved US$250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG). The establishment of DBG would increase access to long-term finance to boost job creation for 10,000 enterprises in key sectors including agribusinesses, manufacturing and high value services. “By offering long-term wholesale financing, credit guarantees, and other services, the Ghana Development Finance project will help increase overall lending to priority sectors and market segments,” said Pierre Laporte,…

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