Gov't absorbs 50% of interest rate charged to 1D1F companies
Government says it will bear 50% of interest on loans advanced to factories that would be operating under its 1District, 1Factory (1D1F) policy. This intervention by government is expected to attract more companies in the private sector to get onboard the government’s 1D1F programme. Speaking at the Graphic Business and Stanbic Bank Breakfast meeting in Accra, Senior Minister Yaw Osafo Marfo added that the move would help take some burden off owners and managers of factories under the programme. “What the government has decided is that, the government will absorb 50% of the interest rate on this 1D1F companies, so that determining what will be bankable will be done by the professionals; so that when you have been appraised, you have been shortlisted, you have qualified, the cost of money to you will be shared between the government and yourself.”
Source: editors.3news.com| Ghana
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Irene Amesimeku is a writer with 3news.com. Follow him on X, @irene and LinkedIn: Irene Amesimeku