The Minister for Trade and Industry, Hon Alan Kyeremanteng, has stated that the government of Ghana through the Ministry has facilitated the setting up of 278 companies and projects across the 16 regions of Ghana.
Mr Kyeremanteng explained that, out of this number, 106 companies are currently in operation, whereas 148 are under construction, with 24 at the mobilization stage.
He emphasised it is important to note that the 1DIF initiative is private sector-led but facilitated by Government.
He outlined the role of the government which includes payment of interest subsidy on loans granted to IDIF companies and projects by Participating Financial Institutions (PFIs).
He explained the granting of incentives such as Waiver of Import Duties on capital goods and raw materials; and facilitation of access to infrastructures such as electricity, water, and roads.
He revealed since the start of the Programme, Government has successfully mobilized loans for IDIF companies from the Participating Financial Institutions totalling an amount of GHS2.69 billion. This amount has been leveraged through the disbursement of an amount of GHS 260.9 million by Government as a subsidy to derisk loans and support interest payment for beneficiary IDIF companies and projects.