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Export/Import Bank Parliament passes EXIM bank bill

The bill when assented to by president John Mahama is expected to act as an intermediary between national governments and exporters to issue export financing.

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Parliament of Ghana play

Parliament of Ghana

Parliament on Wednesday March 2 passed the Ghana Export/Import Bank (EXIM) bill into law.

The bill when assented to by president John Mahama is expected to act as an intermediary between national governments and exporters to issue export financing.

President Mahama during his State of the Nation address to parliament said the EXIM Bank would move the country from import-dependent to a large-scale exporter, adding that "The primary purpose [of the bill] is to finance exports, notably light industrial products."

He said the establishment of the bank is "part of our agenda to achieve a value-added and export-led economy."

The bank will support exporters to compete globally by providing insurance and finance facilities to support their overseas activities.

In addition, the bank will improve the capacity of the country to produce goods and services in the competitive international marketspace.

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