GHANA EXPORT-IMPORT BANK PAYS OFF US$100 MILLION LOAN FACILITY AHEAD OF SCHEDULE
The Board and Executive Management of Ghana Export-Import Bank (GEXIM) wishes to inform its stakeholders and the general public that the Bank has successfully paid off a loan facility which it contracted from an international syndicate of lenders.
GEXIM was established by the Ghana Export-Import Bank Act 2016 (Act 911) to support the Government of Ghana’s quest for a feasible and sustainable export led economy. To achieve this objective, the Bank contracted a loan facility from a syndicate of international financial institutions.
On 21st January 2020, a Facility Agreement covering a five (5) year term loan facility of up to US$150.0M was signed between the lending syndicate and GEXIM in London. Subsequently, US$100.0M was disbursed to GEXIM on 28th April 2020 to support various flagship projects of the Bank.
The loan facility was used to assist industries in our key focus areas, including pharmaceuticals, poultry production and processing, pineapple production and processing, tomato production and processing, avocado, mango, greenhouse production, garment and apparel, fertilizer blending, oil palm, cashew and sweet potato production.
The loan facility was used to assist industries in our key focus areas, including pharmaceuticals, poultry production and processing, pineapple production and processing, tomato production and processing, avocado, mango, greenhouse production, garment and apparel, fertilizer blending, oil palm, cashew and sweet potato production.
GEXIM has been able to honour its repayment obligations throughout the tenor of the loan facility. The loan facility was retired fully ahead of the scheduled final repayment in January 2025. This was achieved despite challenges due to COVID-19 and the global economic downturn.
This funding has enabled GEXIM to grow its assets (from GHS 1.250 billion in 2019 to GHS 2.245 billion in 2023) and strengthen its balance sheet thus positioning the Bank to effectively pursue its vision of making Ghana an export-led economy.
We wish to thank the Ministry of Finance and the Parliament of Ghana for their invaluable support, approval and oversight advice, which made GEXIM’s maiden foray into the international sphere a resounding success.
