The Chief Executive Officer of Development Bank Ghana (DBG) has highlighted the importance of the financial institution to the economy of the country.

According to Kwamina Bentsi Enchill Duker, the yet-to-be-launched bank seeks to change the status quo in the Ghanaian financial sector that does not favour small and medium-scale enterprises.

Delivering a speech on Monday, the CEO noted that SMEs are a major contributor to the workforce and the Gross Domestic Product (GDP) of the country, yet, the current banking structure makes it nearly impossible for SMEs operators to acquire loans to support their various business.

In view of this, the DBG seeks to “do it differently,” in order to support SMEs.

“To do it different means we will operate as a united front with our partners, our banking friends and the SMEs we are all working to support. We must be different in the way we help solve some of the problems facing SMEs.

“DBG is designed to help relieve critical bottlenecks that have hindered the availability of long-term, competitively priced loans to small and medium-scale enterprises in industry sectors that have the potential to transform the economy,” he noted.

Mr Duker further revealed that the Bank has attained a capital structure of nearly $800 million with support from government, World Bank, European Investment Bank (EIB), and African Development Bank (AfDB).

“DBG has ₵1.2 billion in capital. We have received funds in excess of $700 million from our shareholder and partners to on-lend to PFIs and provide capacity building. We are humbled by the support we have received so far, and indeed continue to receive, from these institutions and the government.

“Our commitment is to make an impact by doing it differently and doing it properly. We are also very pleased to be partnering with our partner financial institutions. Already we have partnered with CalBank, CBG, GCB and Fidelity Bank. We are looking forward to seeing the benefits that these relationships will bring,” he noted.

In the bid to ensure success, the CEO said the Bank partnered with organisations that will help improve the services and products available to SMEs.

“DBG is ready to make an impact, to do it differently. Our team is in place and primed for action,” he stressed.

Meanwhile, all is set for the launch of DBG tomorrow and Mr Duker says the bank can not wait to “mark the beginning of a significant journey.”