President Mills calls on banks to support housing sector

President John Evans Atta Mills on Thursday urged banks to support mortgage financing to help reduce the shortage in the provision of houses.

He reiterated government’s commitment to provide shelter to the people, and welcomed assistance from financial institutions in housing the people.

President Mills made the call when Mr Bob Diamond, Chief Executive of Barclays Plc. who is on a visit to Ghana, paid a courtesy call on him at the Osu Castle in Accra.

He said despite the global recession, Ghana had been able to make enormous progress and expanded her economy, and was taking further giant steps for economic progress.

President Mills noted that the desire of majority of the people was to build or own their own houses, but they had been constrained by lack of financing.

He therefore, urged financial institutions to do more in mortgage financing as a means of reducing the housing deficits.

Barclays Bank had been operating in Ghana for the past 95 years, President Mills said, and commended the Bank for its warm relationship with Ghanaians.

“Barclays Bank has a high reputation in the country, and it has become a household name,” President Mills added.

He called for the support of the nation's international trade and new emerging sectors of the economy.

Mr Diamond commended President Mills' support for Ghana’s economy, and announced that the Bank would come up with more support for the middle income areas, as well as the oil and energy sectors of the economy.**