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Importer and Exporters Terkper urges exporters to take advantage of EXIM bank

According to Mr. Terkper, the Ghana COCOBOD set a good precedent for the advantage of such banks outside Ghana to boost  the cocoa industry.

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Minister of Finance, Seth Terkper has urged importers and exporters to take advantage of opportunities presented by the Ghana Export and Import bank to improve their businesses.

 “I would want to entreat the private sector to partner with government in these institutions, it is true that the State Owned Enterprises will benefit but I think we can be part of changing all these institutions for investment and trade,” the Minister emphasized.

According to Mr. Terkper, the Ghana COCOBOD set a good precedent for the advantage of such banks outside Ghana to boost  the cocoa industry.

The Ghana EXIM bank is established  to develop international trade between Ghana and other countries by empowering Ghanaian importers and exporters  with adequate funds.

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 “We can learn from this model [adopted by the COCOBOD] and from Exim bank practices elsewhere; escrow the export earnings for our private sector who are exporters and through the process, bundle all these earnings together and borrow from the international market at competitive rates.”

The Finance Minister announced plans by government to re-strategize the Exim bank to enable exporters accrue enough funds and borrow from the international market for expansion.

The bank would also bridge the imbalances that had over the years, been registered in the trade and infrastructural development.

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