Accra, Sept. 9, GNA - The Business Sector Advocacy Challenge (BUSAC) Fund will launch the second phase of its Private Sector Development (SPSD) project on Wednesday in Accra.

A statement signed by Ms Laurencia Tettey, Acting Fund Manager, on Thursday said the second phase was aimed at consolidating the efforts made by the Fund in support of the Government of Ghana Private Sector Development Strategy between 2004 and 2009.

The statement said the conference would be addressed by the Chairperson of the Fund's Steering Committee and former President of the Association of Ghana Industries, Mrs Elizabeth Villars, and the Fund Manager, Dr Dale Rachmeler.

The Danish International Development Agency (DANIDA) is the lead donor of the pooled fund, which began operations in Ghana in 2004.

The statement said the BUSAC Fund would continue its support for the development of the private sector in the next five years through support for advocacy programmes of various business associations and media organisations whose applications received the approval of the Fund's management.

It reiterated that the overall development objectives of the Fund were promoting enterprise growth and the creation of descent and sustainable jobs by the private sector.

The Fund said in the first phase it gave out 362 grants to private sector institutions, business associations, labour unions and media organisations to carry out advocacy in various areas for development of the private sector.

The Private Enterprise Foundation, Ghana Chamber of Mines, Association of Ghana Industries and the Ghana Journalists Association were among the major beneficiaries in the first phase.