Government, EXIM Bank to support 1D1F

The government has released funds to ensure full completion of the Boaso Bamboo Processing Factory under flagship policy of One-Distric-One-Factory in the Atwima Nwanbiagya District in the Ashanti Region after several concerns by the people in the region.

This came to light after the Chief of the Boaso, Nana Kofi Bimpong II had several meetings with the Trade and Industry Ministry and later disclosed to journalists the government's commitment to pump money into the project.

"The government and Exim Bank have agreed to give me a loan of One Million dollar to enable me complete my project", the Chief told reporters after taking reporters to the project site

Earlier, a team from the Exim Bank had also visited the site to acquaint themselves and assess the project worth billions of Cedis indicating funds will be made available soon for the project completion.

According to Nana Kofi Bimpong, currently, more than two hundred permanent and nonpermanent staff will be employed aiming to curb the glowing unemployment rate in the area and to some extent, the country at large.

The ‘One-District-One-Factory’ programme is aimed at establishing, at least, one factory or enterprise in each of the 216 districts of Ghana as a means of creating economic growth poles that would accelerate the development of those areas and create jobs for the teeming youth.

The policy aims to transform the structure of the economy from one dependent on production and export of raw materials to a value-added industrialised economy, driven primarily by the private sector.

At the launching of the policy, President Akufo-Addo said the initiative would propel the industrialisation agenda of his government at the district levels, as well as drive linkages to agriculture and other natural resources of the country.

He said there could be no future prosperity for the people in the short, medium or long term “if we continue to maintain economic structures that are dependent on the production and export of raw materials.”