Finance Minister, Dr. Mohammed Amin Adam, has expressed excitement for leading Ghana to sign a $200 million Memorandum of Understanding with the ECOWAS Bank for International Development (EBID).

According to him, this will have a transformative impact on entrepreneurs and the Ghanaian economy.

In a tweet, he said “Please to announce that in Lome on Friday May 10, 2024, I signed an MoU with EBID to arrange for $200m to boost SME growth in Ghana, through lending by GCB Bank PLC. Truly excited about the potential transformative impact on entrepreneurs and the economy”.

President Akufo-Addo today May 13, 2024, disclosed that Ghana has signed an MoU with the ECOWAS Bank for Investment and Development to secure a $200 million facility for on lending to Small and Medium Enterprises (SMEs).

Speaking on day one of the 3i Africa Summit, the president disclosed that the Finance Minister signed the MoU on behalf of Ghana on Friday May 10, 2024.

“In furtherance of our objective of providing financial access to SMEs, the Minister for Finance and president of EBID signed last Friday in Togo, a MOU for $200 million facility to disbursed

 though the Ghana Commercial Bank and the Ghana EXIM Bank to SMEs”, he said.

President Akufo-Addo reiterated government’s commitment to fund the operations of SMEs at lower interest rate to sustain their operations.