Friday, March 5

President Akufo-Addo announces additional GH¢3 billion package to support businesses affected by COVID 19

President Nana Addo Dankwa AKufo-Addo says the government, through the Ministry of Finance, has agreed with the Bank of Ghana to raise GH¢3 billion to support specific industries in the country.

The amount, he said, will be disbursed to industries that have been the hardest hit by the coronavirus (COVID 19) pandemic in a form of loans.

The President said this afternoon in a meeting with key players in the hospitality industry in the country at the Jubilee House in Accra.

The Bank of Ghana, with the support of the Ministry of Finance, has worked towards reducing interest rates and even putting in place a moratorium on the payment of monies”

“There is a subsequent package that is also being currently negotiated between the ministry and the BoG for a large amount to be pumped into the economy to support more productive sectors of the economy”

The packages, he said, will be given in addition to the GH¢600 million packages which will be disbursed to SMEs in the country to cushion them against the impact of the COVID 19 pandemic.

“Clearly, there is every need for us to have an accelerated disbursement,” he said added that the large scale enterprises will be supported with funds from the funds from IMF funds and other sources.  

He President commended institutions such as Alisa Hotel for putting their facilities to the disposal of the government during the quarantine period.

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