Development Bank Ghana has announced its plan to allocate GH¢1 billion to commercial banks and other financial institutions this year, aiming to bolster key sectors of the economy.
Kwamina Duker, Chief Executive of Development Bank Ghana, shared this information during the Annual IMF/World Bank Spring meetings held in Washington DC.
The initiative is part of the bank’s strategy to offer extended funding to commercial banks. The funds will then be directed towards the private sector and sectors deemed vital for Ghana’s economic growth.
This move underscores the bank’s commitment to facilitating long-term financial support, ultimately fostering the development of Ghana’s economy.
“Since we started operations, we have advanced GH¢ billion through our participating financial institutions to the private sector, and we intend to increase to GH¢ 2 billion before the end of this year.”
Kwamina Duker, Chief Executive of Development Bank Ghana
This he said could make the bank one of Ghana’s biggest lenders for long-term funding.
Mr. Duker emphasized the bank’s unwavering commitment to extending financial aid to areas that have been historically underserved.
The bank intends to collaborate closely with various financial institutions across the country to ensure adequate support is provided where it is most needed.
“The Bank places significant emphasis on targeted development sectors by providing financial support and expertise to these sectors through participating financial institutions. The bank aims to fuel prosperity and unlock the potential of Ghana’s economy”
Kwamina Duker, Chief Executive of Development Bank Ghana
Supporting the Agriculture Sector
Mr. Duker disclosed that a significant portion of the GH¢1 billion earmarked for commercial banks this year — specifically, 25% to 35% — will be directed towards the agricultural sector.
Furthermore, he highlighted that the Development Bank’s mandate focuses on specific sectors crucial to the economy’s growth. These include manufacturing, agriculture, ICT, and high-value services.
“Our focus is primarily on agric, and that is why we are working with the Ghana Incentive-Based Sharing System for Agricultural Lending (GIRSAL) to help deal with funding challenges in the sector.”
Kwamina Duker, Chief Executive of Development Bank Ghana
He noted that “we believe that agriculture is one of the best ways to transform the economy and provide support for food security and that is why we are giving this sector the needed attention.”

Impact Financing
The Chief Executive of Development Bank Ghana revealed that his outfit also put in place measures to ensure that, these funds get to the right sectors and achieve the desired results.
He added “This will ensure that the expected impact is achieved in terms of supporting sectors that have not secured the needed funding in the past.
“We are not lending for lending sake, but rather, lending with purpose and targeting banker-able deals” Mr Duker revealed.
The Development Bank Ghana was established in 2020, but it commenced full operations in 2022. It is wholly owned by the government and receives co-financial assistance from several sources.
These include the Federal Ministry for Economic Cooperation and Development of Germany through the KFW, as well as support from the World Bank, the African Development Bank, and the European Investment Bank.
The bank collaborates closely with PFIs (Participating Financial Institutions) to empower them in meeting the increasing demands to provide medium to long-term loans to SMEs (Small and Medium Enterprises) in a profitable manner.
This approach combines concessionary funding provided to PFIs at competitive rates with comprehensive business development support and specialized solutions.
These solutions are designed to assist PFIs in effectively managing risks and optimizing their operations. Some of the specific support measures include partial credit guarantees, credit bureau development, and finance and data-driven platforms.
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