Taskforce to work on establishment of Exim Bank

President John Dramani Mahama has set up a taskforce to work on establishing a Ghana Exim Bank.

The taskforce, which will be chaired by Chair of the ECOBANK Board of Directors, Lionel Van Lare Dosoo, also includes the Managing Director of GCB Limited Simon Dornoo and Steve Williams, a banker.

Government announced plans to set up a Ghana Export-Import Bank in its 2015 Budget and Financial Estimates as a step toward strategically positioning Ghana as an export-led economy.

The Ghana Exim Bank will be a vehicle for consolidating current export finance activities of the Export Development and Agricultural Investment Fund (EDAIF), Eximguaranty Company and Export Finance Company.

According to a statement signed by the Chief of Staff, Prosper Bani, the taskforce will also have representatives from a number of institutions including the Association of Ghana Industries, Export Finance Company, Eximguaranty Company, Ghana Export Promotion Authority, EDAIF and the Federation of Ghanaian Exporters.

Others are the Bank of Ghana, Ministry of Trade and Industry, Ministry of Finance and the Attorney-General’s Department.