• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Banking & Finance

National Development Bank to commence operations in July, says Ken Ofori-Atta

4 years ago
in Banking & Finance, highlights, Home, home-news, latest News
1 min read
0 0
0
107
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Minister for Finance, Ken Ofori-Atta, has said the establishment and subsequent operationalisation of the National Development Bank (NDB) will commence by the end of July this year.

Touching on the matter at a press briefing on Sunday, May 9, the Finance Minister noted that the $500 million seed capital for the establishment of the Development Bank has been raised.

“Just by the end of July, we will have a National Development Bank capitalised with over $500 million that will provide long-term wholesale financing and not retail as has happened in the past to the private sector through the commercial banks and non-bank financial institutions such as venture capital companies and SMEs to ensure financing to support businesses,” stated Mr Ofori-Atta.

Initially, the National Development Bank (NDB) or Development Bank Ghana (DBG) was expected to commence operations in January 2021.

The raised capital seed of $500 million is believed to have been contributed by four different international financial institutions – KfW, World Bank, AFD and European Investment Bank (EIB).

Executive Directors of the Board of the World Bank Group, some months ago approved $250 million from the International Development Association (IDA) to support the establishment of the Development Bank of Ghana (DBG).

DBG in its operations is expected to over the medium-term focus on and transform the industry, agriculture, agro-processing, and housing and mortgage sub-sectors of the economy.

RelatedPosts

US Companies Cut Investments in China to Record Lows, Here’s Why

How AI is Rewriting and Enhancing Water Risk Management

SheFarms Broiler Edition Kicks Off in Greater Accra

When operational, DBG will deploy products and instruments such as credit guarantee funds, refinancing of Participating Financial Institutions (PFIs) loans, term loans, business development services and factoring, among others.

Source: norvanreports
Tags: AFD and European Investment Bank (EIB)Development Bank Ghana (DBG)KfWlong-term wholesale financingNational Development Bank (NDB)World Bank
No Result
View All Result

Highlights

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

GFA Set To Release 2025/26 Premier League Fixtures On Monday August 4

Leclerc Claims Stunning Pole Position as McLaren Struggles in Changing Winds

Nigeria Losing Battle Against Hunger as Food Inflation Persists

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

Trending

Business

US Companies Cut Investments in China to Record Lows, Here’s Why

August 3, 2025

US Companies Cut Investments in China to Record Lows, Here's Why American companies have cut investments in...

AI. Circuit board. Technology background, Central Computer Processors CPU concept..

How AI is Rewriting and Enhancing Water Risk Management

August 3, 2025

SheFarms Broiler Edition Kicks Off in Greater Accra

August 3, 2025

PharmAccess Ghana, Healthcare Federation of Ghana sign SafeCare License Agreement; to use Newest ISQua-Certified Version 5

August 3, 2025

Tanzania Sink Burkina Faso to Delight Home Crowd In TotalEnergies CHAN 2024 Opener

August 3, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.