Veep markets Ghana micro-credit credentials in Thailand

From Nana Kodjo Jehu-Appiah, GNA Special Correspondent, Bangkok

Bangkok, Sept.1 GNA - Visiting Vice President Aliu Mahama on Friday marketed the giant strides Ghana was making in the promotion of micro-credit financing in Bangkok and stretched a hand of welcome to the Thailand Government Savings Bank (GSB) to partner the country to achieve greater success.


He said although President John Agyekum Kufuor would soon launch a National Programme on Micro-Credit the record of Ghana on micro-financing could be improved by tapping the experience of the Bank. Vice President Alhaji Mahama made this known when he held a meeting with the Management of GSB, led by the President and Chief Executive Officer, Mr Goanpot Asvinvichit.


He said one area of concern to the Ghanaian authorities was the rate at which beneficiaries of the micro-credits defaulted in payment. "We have to understudy GSB to use their experience on loan recovery," he said, after watching a video clip on the business operations of the Bank.


Mr Asvinvichit said the related activities on micro-finance being implemented by GSB included People's Bank Project and Credit Rural Development among other things. He said GSB was a State-owned Bank, which served as a driving force for the implementation of Government fiscal policy and played an important role in creating and maintaining the stability of the money and capital markets, to ensure national economic security. "As at 31st June, 2006 GSB assets stood at 16.834 million dollars. Our liabilities were recorded at 15.023 million dollars," he said.

Vice President Mahama later met with Mr Watana Muangsook, Minister of Social Development and Human Security, who exposed him to the mission and operation plans for housing development in Thailand. Under the National Housing Authority, Thais especially the less advantaged and the low and middle income earners are being provided with residential quarters.


Mr Muangsook said 300,000 households living in 1,826 communities were being provided with affordable housing units. It is estimated that between 2003 and 2008, about 600,000 housing units would be provided to slum dwellers. Mr Muangsook said the buildings were constructed between a period of 60 days and 90 days.


Vice President Alhaji Mahama said lack of good housing facilities was posing as a social problem to many countries, hence the need for Ghana to study Thailand's experience to accelerate efforts to offer shelter to every Ghanaian. 1 Sept.06