Business News of 2014-03-26

EDAIF approves over GH¢55 million for businesses

The Board of the Export Trade, Agricultural and Industrial Development Fund (EDAIF) has approved an amount of GHC 55,806,267.00 to ten businesses in the country.
These approval, according to a statement issued in Accra on Tuesday, is in line with the Fund's objective of providing financial resources for the development and promotion of export trade, agriculture related to agro processing and industrial development.
Nine of the beneficiaries are in the agricultural sector, while one is a pharmaceutical company.
While an amount of GHC46, 541,058 00 out of the total approval was for new credits and projects, GHC9, 265,209.00 was for rescheduled credit facilities.
The purpose of the credit, the statement noted, is for the maintenance of existing farms, irrigation, augmenting working capital, refinancing of existing loans, and construction of structural facilities such as manufacturing and agro-processing to meet International Standards.
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