News:
February 12, 2022
Minister for Trade and Industry, Mr. Alan Kyerematen has stated that, over the last four years, government of Ghana through the Ministry of Trade and Industry has facilitated the setting up of 278 companies and projects across the 16 regions of Ghana.
He said, out of this number, 106 companies are currently in operation, 148 are under construction, and 24 are at the mobilization stage, and also noted that the 1D1F initiative is private sector-led but facilitated by Government.
The Role of Government
Mr. Kyerematen outlined the role of government which includes payment of interest subsidy on loans granted to IDIF companies and projects by Participating Financial Institutions (PFIs) together with granting of incentives such as waiver of import duties on capital goods and raw materials, and facilitation of access to infrastructure such as electricity, water, and roads.
He further pointed out that since the start of the Programme, Government has successfully mobilized loans for IDIF companies from the Participating Financial Institutions totaling an amount of GHS2.69 billion and that, such amount has been leveraged through the disbursement of an amount of GHS260.9 million by Government as subsidy to derrick loans and support interest payment for beneficiary IDIF companies and projects.
This was when Member of Parliament for Tamale North Alhassan Sayibu Suhuyini asked a question on behalf of his colleague from Tamale Central who wanted to know how many factories has been set up und the 1D1F programme and how much government has spent for their establishment.
Ghanamps.com