adb committed to financing agriculture, forestry and fisheries - MD

Mr Daniel Asiedu, the Managing Director of the Agricultural Development Bank (adb), has attributed the bank’s award as the Best Bank in Financing Agriculture, Forestry and Fisheries to its readiness to take risks in the competitive market.

"The adb emerged tops in financing agriculture, forestry and fisheries sector, which is recognised as the backbone of Ghana's economy, though many banks shy away from providing credit facilities to farmers due to the risks involved," he said.

This was in a press release issued by the Corporate Communications Department of the bank on Friday and copied to the Ghana News Agency in Accra.

The 15th Ghana Banking Awards, which was organised last Saturday, is to award the best performing banks in the country annually.

Mr Asiedu said the bank, over the past five years, invested over 350 million Ghana cedis in different areas within the agriculture, forestry and fisheries sectors.

He said winning the award was an indication that the bank remained committed to the reason for its establishment.

“Winning the award is an indication that even in the midst of stiff industry competition and an unpredictable agricultural sector, the bank remains committed to ensuring that the sector remains a major contributor to our economy,” he said.

"We dedicate the award to the loyal customers and farmers to whom we remain committed to in growing their business," he said.

He said it was an honour to be the best amongst their peers in critical sectors like agriculture, forestry and fishing and "I wish to assure our customers to expect more innovative and tailor-made products which will boost their businesses."

Mr Asiedu said in 2015, the bank facilitated the provision of 17.7 million Euros geared towards the production of 8,000 hectares of rubber in the country and "it remains the major sponsor of the annual National Farmers’ Day event and consistently financed the building of a three bedroom house to the ultimate winner."