New project to assist RCBs with Danish assistance

The ARB Apex Bank Limited in collaboration with the Danish International Development Agency (DANIDA), has established a new project to assist Rural and Community Banks (RCBs) in various ways.

The fund is to enable RCBs to finance activities which require loans with tenures exceeding 18 months but not more than five years.

Speaking at the 27th Annual General Meeting of the Kwaebibirem Rural Bank at Asuom, Mr Samuel Twumasi Ankrah, Manager of the Efficiency Monitoring Unit of the ARB Apex Bank Limited, said the project includes the Rural Finance Wholesale Fund, the Merger Fund, Transfer Fund and Western Union/Money Gram money transfer services.

Under the Rural Finance Wholesale Fund, investment in productive growth would be given to enterprises for job creation which would go to micro, small and medium enterprises and commercial farmers.

The merger fund would assist RCBs which intended to merge to procure consultancy services and enable them to carry out their intention by paying for the cost of such service.

The Human resources development for the ARB Apex Bank is intended to assist the Apex Bank to implement its training programmes for its personnel including the board management and staff.

On building the capacity to support RCBs, Mr Ankrah said the aim was to build the human resource of RCBs to ensure the provision of effective and efficient financial intermediation by providing solutions to the needs of the banks in training programmes covering classroom training, monitoring, attachments study risks, seminars, technical assistance workshops and E-training.

The Chairman of the Board of Directors, Mr Andrews Antwi Oduro, thanked management and staff for their hard work during which visible achievements had been realized and a strong computerization foundation laid for growth.