GHANA EXIM BANK TO BUILD 100 GREEN HOUSES IN 2019

Mr. Lawrence Agyinsam (left) addressing the Staff of Ghana Export-Import Bank (GEXIM) at its State–of-the-Art Ultra-modern EXPORT TRADE HOUSE Conference Room in Accra

Ghana Exim Bank, the leading export-financing development Bank in Ghana, will construct 100 Green Houses across the country under its “Youth In Green House Enterprise Project (YUGEP)”, this year to promote investment in greenhouse vegetable production, reduce huge and persistent importation of vegetables, as well as creating employment within the economy.

This intervention is also an import-substitution strategy to increase the production and yield of vegetable output in Ghana.

These were disclosed by the Chief Executive Officer of the Bank, Mr. Lawrence Agyinsam, when he addressed a Staff Durbar of the Bank at its EXPORT TRADE HOUSE Corporate Head Office in Accra on January 31, to outline the Bank’s 2019 Strategic vision and programmes for the year.

He said, for a start, due to vegetation and ecological considerations, Six Regions, namely, Greater Accra, Ashanti, Central, Western, Volta and Eastern Regions are being considered, adding that, all the necessary stakeholder consultations had been carried out and the necessary procurement process initiated to ensure that the Project commences soon.

“It is estimated that about USD 100M is spent on vegetable importation into Ghana and this initiative is to help reduce drastically this volume, save foreign exchange and create rural employment in the country,” he hinted. 

Mr. Lawrence Agyinsam disclosed that, the Bank, in collaboration with the 1D1F Secretariat, will finance 100 Community-based Industries with an amount of GHS70M, to boost rural industrialization and stem the Urban-Rural drift as well as create the needed employment at the local levels.

“Not only that, we will also establish five LEGACY Projects, including the construction of a Jute Factory in Kumasi in the Ashanti Region, he further added.

He, therefore, charged the Staff to brace themselves for an action-declared year and to contribute their quotas towards the achievement of “Ghana Beyond Aid” programme.

 Ghana Export-Import Bank (GEXIM) was established by an Act of Parliament 2016, Act 911, to support and develop directly or indirectly trade between Ghana and other Countries and also build Ghana’s Capacity and Competitiveness in the International Market place.