Government Signs Grant Italy | Government Grants

Prof. John Evans Atta Mills, President of Ghana

The Government of Ghana has sealed a extend of €22m with a Italian Government to support a private zone underneath a Ghana Private Sector Development Facility (GPSDF).

This follows a successcful execution of a initial proviso of that an volume of €11m extend used to support Small and Medium Enterprises (SMEs) between 2004-2008.

The €22m extend is an additional financial apparatus authorized by a Italian Foreign Affairs Ministry in 2008 to means efforts of a Government of Ghana in compelling privatesector development.

The Deputy Minister of Trade and Industry, Hon Joseph Annan, reiterated governments efforts during ensuring that a private sectorassuming a pivotal to mercantile expansion and expansion in Ghana.

According to him, a categorical member of a Project is a soothing loan in preference of Ghanaian entrepreneurs amounting to €20million, while a remaining €2million will be used to conduct a credit trickery and doing of additional activities such as ability building courses, micro-projects and expansion of industrial clusters in several tools of a country.

"The supervision is also assured that a intensity of SMEs to kindle such expansion is outrageous as they currently contibute to over 80% of a country's Gross Domestric Product (GDP)", he continued.

The Italian Ambassador, H.E Tullio Guma, on his partial remarkable that a basement for Italy's mercantile expansion can be attributed to SMEs that have shown over a years their fundamental potency and flexibility.

In perspective if a general financial crises worldwide and a liberalization of markets within a horizon of a World Trade Agreement (WTO) agreement; a Italian ambassdor urged a GPSDF to cruise replicating a Italiam indication in Ghana.

Noting that a programe has shown promise, adding that both Private companies and financial establishment have welcomed it, so distant over 450 applications have been recieved.

Source: ISD (Solace Amankwa Redeemer Quartey)