Ghana government raises GH3 billion deal for industries to fight COVID-19

President of Ghana, Nana Addo Dankwa Akufo-Addo says the government has made an agreement with the commercial banks and the Bank of Ghana to raise GH3 billion to support specific industries in the country.

He said the amount will be spent on industries that have been severely affected by the coronavirus (COVID 19) pandemic in a form of loans.

At a meeting with key players in the hospitality industry in the country at the Jubilee House in Accra, Akufo-Addo said, "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 Bank of Ghana for a large amount to be pumped into the economy to support productive sectors of the economy, "he added.

The President indicated that although his government is the hardest hit by the coronavirus pandemic, it will continue to work hard to restore the economy.

President Akufo-Addo praised stakeholders in the hospitality sector for their contribution to the growth of the country's economy, adding that the success of last year's Year of Return, is largely attributed to the hospitality sector and thanked the businesses in the sector for the support.

The President of the Ghana Tourism Industry (GHATOF), Bella Ayayee praised the President for the support of the sector and appealed to the government to support the growth of domestic tourism, especially post COVID-19.