Yaw Osafo-Maafo, Senior Minister has revealed that under government’s One District-One Factory (1D1F) program, fifty companies are to begin production before the end of 2018.
He said, so far 15 projects have been approved for implementation under the 1D1F… We expect that by end of 2018, 50 of those which have been appraised will be in production.
the Minister said while addressing a gathering at a Meeting in Accra on Tuesday, 31 July 2018, 781 expressions of interest have been received, out of which 632 have been reviewed and 332 are currently being processed for financial support.
The former Minister of Finance said some banks have expressed commitment to provide funding for the projects which “will have to be appraised by the banks because the 1D1F is all in the domain of the private sector, not the government”.
The former Minister of Finance added, what the government has decided is that it will absorb 50 per cent of the interest rates of these 1D1F companies so that determining what is bankable will be done by the professionals. When you have been appraised, shortlisted and you have qualified, the cost of money to you will be shared between the government and yourself.
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