UMB Bank has announced a partnership deal with government to inject 100 million US dollars into the One-District-One- Factory project over a period of time.<\/p>\n
According to the bank, the project fits into its strategy of investing in public infrastructure for long term returns.<\/p>\n
Speaking to Citi Business News<\/strong> at the Flagstaff House after meeting the president, the Managing Director of UMB, John Awuah maintained that the bank is ready to inject the funds into the project when government comes out with the blueprint.<\/p>\n He stated that the bank is convinced of the policy direction of the government, hence the decision to bring it into fruition.<\/p>\n \u201cThe president\u2019s vision of one district one factory fits directly into our long term plans as a bank. We have an elaborate and a comprehensive long term plan that had a component of partnership \u00a0with government sectors. Being \u00a0the bank of choice for public- private arrangement, when we heard of\u00a0 the one district one factory, we said this is an opportune time to tap into the strategy and bring forward few of the pillars that we have said will come in the course of time,\u201d he explained.<\/p>\n Outlining the benefit of the investment to the bank, Mr. Awuah maintained that the move will solidify UMB as the leading bank in championing investment in the real sectors of Ghana\u2019s economy.<\/p>\n \u201cWe can properly position the institution, and also to facilitate the government agenda of ensuring the success of this programme. We have calibrated and recalibrated this for a long period,\u201d he said.<\/p>\n Mr. Awuah pointed out that the bank will inject the fund into the project in phases while it assess its impact and viability.<\/p>\n \u201cIt\u2019s not 100 million today, is up to 100 million. The project is going to be up to 100 million dollars and we want to have a few initial projects and do projects appraisals and step back to analyze how we have done on the delivery of the project,\u201d he stressed.<\/p>\n \u201cI can assure you that it\u2019s a plan that is well thought through and UMB is 100 percent ready to start this as soon as we are very clear on the government side on the delivery of the project,\u201d he assured.<\/p>\n On his part, President Akufo-Addo reiterated his government\u2019s commitment to support the private sector to lead in the growth agenda by creating a conducive environment for businesses.<\/p>\n –<\/p>\n By:Lawrence Segbefia\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":" UMB Bank has announced a partnership deal with government to inject 100 million US dollars into the One-District-One- Factory project over a period of time. According to the bank, the project fits into its strategy of investing in public infrastructure for long term returns. Speaking to Citi Business News at the Flagstaff House after meeting […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[121,32],"tags":[],"yoast_head":"\n