I’ll continue to support EXIM Bank to recover our money from loan defaulters – Mahama
President John Dramani Mahama has pledged continued government support for the Ghana Export-Import Bank (EXIM Bank) to recover funds owed by individuals and businesses that have defaulted on loans obtained from the institution.
According to President Mahama, recovering the outstanding funds is critical to protecting public resources and ensuring that EXIM Bank can continue financing productive businesses and industrial projects across the country.
He made the statement at the official opening of the Northshore Apparel Hub at Savelugu in the Northern Region, where he highlighted the role of EXIM Bank in supporting industrial development and job creation.
President Mahama said the bank was established to provide financing for projects with significant economic and employment potential.
He, however, expressed concern that genuine industrialists and investors had previously struggled to access EXIM Bank financing, alleging that politically connected individuals had benefited from loans without adequately repaying them.
“And I will continue to support them to take the money back from those who have taken our money,” President Mahama stated.
He said the government was committed to ensuring that funds belonging to the state were recovered and made available for their intended purpose.
The President disclosed that EXIM Bank had provided almost US$12 million in financing to support the Northshore Apparel Hub, describing the project as the type of industrial venture the bank was created to finance.
He said his administration had consequently shifted the focus of EXIM Bank towards impactful financing for viable businesses and projects capable of creating employment opportunities for Ghanaian youth.
“And so we’ve shifted the attention and the focus of Ghana EXIM to this kind of financing, impactful financing of such projects that provide jobs and employment for our young people,” he added.
President Mahama stressed that strengthening loan recovery would enable EXIM Bank to recycle its resources into new businesses, industrial ventures and other productive sectors of the economy.
He said the government would continue working with the bank to ensure that public funds entrusted to it are properly recovered and deployed to support Ghana’s industrialisation agenda.
