EDAIF Approves 57.1 Million GH. Cedis to Local Businesses
                                                   

The Board of Export Trade, Agricultural and Industrial Development Fund (EDAIF), in June and July this year, approved 57.1 million GH. Cedis  in grants and credit to 28 cooperatives, companies and public institutions.
     
Dr Baffour Osei, Chief Executive Officer of EDAIF in a statement, said among the beneficiaries were 15 small-holder cooperatives and associations, eight companies and five public institutions.
    
He said a grant facility of  48.5 million GH Cedis was approved in support of government’s initiatives and interventions in different sectors of the economy.
    
According to Dr. Baffour-Osei, 21.7 million GH Cedis  was approved towards the expansion of local rice production, while a huge step was taken towards large scale shea butter cultivation in Northern Ghana, with an approval of 3.43 million GH.Cedis .
    
Dr Osei mentioned other approvals to include A 6.37 million GH.Cedis to support the establishment of the Ghana Commodities Exchange; 2.88 GH.Cedis for the cultivation of kenaf plant by small holders, to serve as raw material for the manufacture of jute sack in Ghana.
    
Approval was also given for honey production, oil palm processing, fish production and production of organic fertilizer, he added.
     
He said EDAIF support for small-holder associations and cooperatives demonstrates government’s commitment to enhancing the productive capacity of the small and medium scale enterprises.
     
According to Dr Osei, two firms would receive 8.4 million GH. Cedis in loans to support the processing of oil palm and the manufacture of footwear.
     
“The Board and Management of EDAIF wish to encourage small-holder Ghanaian cooperatives, associations, businesses to contact the organization for further information,” he said.

SOURCE: GNA