SMEs To Receive GHC 600 Million In May - Prez Akufo-Addo

Government will be rolling out a loan scheme of GHC 600 million to bolster small and medium sized enterprises in the country.

President Nana Akufo-Addo disclosed this in his ninth address to the nation on COVID-19 on Sunday, May 11, 2020.

The President stated that the micro, small and medium scale businesses will receive the specified loan in the month of May. 

''This weekend, I chaired a three-day cabinet retreat, at Peduase Lodge, to examine in detail measures aimed at reviving and strengthening our economy. I am happy to reiterate that Government is putting in place a Resilience and Recovery Plan, with the overarching aim of finding more resources to strengthen the productive sectors of the economy to ensure sustained economic activity. We are rolling out a soft loan scheme of six hundred million cedis (GH¢600 million), in this month of May, to support micro, small and medium scale businesses, and, as you know, the commercial banks, with the support of the Bank of Ghana, have also instituted a three billion cedi (GH¢3 billion) credit and stimulus package, to help revitalise industries, especially in the pharmaceutical, hospitality, services, and manufacturing sectors.

The Minister for Finance is working tirelessly to find additional resources to supplement these amounts, including the resources to finance the construction of eighty-eight (88) district hospitals, ‘Agenda 88’, and seven (7) regional hospitals, which he will announce at the appropriate time to Parliament and the nation'', he said.