EDAIF funds 765 export projects with GH¢300m since 2001

The Export Development Fund, now known as Export Development and Agriculture Investment Fund (EDAIF), has supported 765 export oriented projects to the tune of GH¢293.52 million since its inception in 2001.

Major Albert B. Don-Chebe (Rtd), Director in charge of Cooperate Planning and Communication of EDAIF, told journalists at a briefing that in addition, GH¢206.72 million had been approved for 286 projects under the credit facility including another GH¢86.80 million  approved for 479 projects under the Export Development and Promotion Facility.

He said with the amendment Act 823 dated 25 October 2011, additional facility known as Agriculture and Agro-Processing Development and Credit Facility had been added to the Export Credit and Projects Facility and the Export Development and Promotion Facility.

Major Don-Chebe said the facility is for the provision of financial resources for the development and promotion of agriculture related industries.

He said the new component would be of benefit to farmers in the three northern regions and appealed to them to take advantage of it.

Alhaji Sulemana Yusif, the Officer in charge of EDAIF, said hitherto, EDAIF centralized in the southern sector but has now moved to the northern part of the country with its in headquarters in Tamale.

He said EDAIF services include grants and loans and that the loan component had the least interest rates as compared to traditional bank rates.

Source: GNA