Educational Finance Bank in the Offing

Accra, Aug. 27, GNA - Government is to establish an Educational Finance Bank to cater for the growing needs of educational institutions and professionals in the sector.

Mr Kwadwo Baah-Wiredu, Minister of Youth, Education and Sports, who announced this in Accra on Wednesday, said a team of consultants have been tasked to look at the merits of the venture.

He said this at the sod-cutting ceremony for the construction of the Accountancy Village Complex at Legon, which will be made up of apex schools to offer courses to students at the final levels of accountancy examinations.

The proposed bank would focus on areas, including students' loan, funding for teacher training, research work and development of educational facilities.

The bank would incorporate the Ghana Education Trust Fund and other educational investments, whose absence constantly pitched government against students, lecturers and other educational workers, culminating in the annual rituals of strikes and sit downs.

He said government recognized that such a bank would be of immense benefit to the nation.

Such banks currently exist in South Africa and the Netherlands.