Audio By Carbonatix
CalBank Ghana will be expanding its support to the Small and Medium Enterprises (SMEs) sector of the economy in the coming weeks.
This follows the closure of a financing deal of about $108 million between the Bank, Overseas Private Investment Corporation (OPIC) and CitiBank.
The deal by the three parties is to allow CalBank to extend its support to the country's SME sector with low interests.
This arrangement will also enable CalBank to advance loans at relatively low interest for business expansion and equipment acquisition.
Managing Director of CalBank Frank Adu Jnr noted "this agreement has been made possible because the parties involved believe in the vision of CalBank and the capability of the bank in supporting the small and medium enterprises over the years.
As a bank, we shall continue to build the necessary partnerships with all our stakeholders even as we journey forward together.”
He also added that CalBank has received previous financing support from both OPIC and Citi to support other sectors of the economy and its operations.
Citi bank is providing $8 million whilst the overseas private investment Corporation is offering $100 million.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Lawyers of men killed in police operation in Upper East Region demand probe
1 hour -
Mahama pushes ‘Accra Reset’ at Africa Forward Summit, warns debt is crippling health systems
1 hour -
Smart glasses are ‘an invasion of privacy’ – Meta’s are selling better than ever
3 hours -
Higher Europe air fares ‘inevitable’, says industry head
3 hours -
Afcon final ‘deficiencies’ dealt with – Motsepe
3 hours -
World Cup transport prices cut after fan backlash
3 hours -
Lawra Assembly targets leaks, dark roads and revenue gaps in new push
3 hours -
KNUST appoints Prof Christian Agyare as next Vice-Chancellor
4 hours -
Defilement suspect found dead in police cell at KEEA
4 hours -
Tetegu taxi driver murder: Court urges police to expedite action on duplicate docket
4 hours -
Twifo court fines 4 over exam malpractice
4 hours -
House of Chiefs cannot install chiefs – Otumfuo warns against politicising chieftaincy
4 hours -
MahamaCare boost for cancer patients as president commissions new PET scan centre
4 hours -
Global Africa Trade Advisory Chamber to launch in Abuja on 25 May
5 hours -
An iron fist joining a broken team: Inside Mourinho’s Real return
5 hours