Exim Bank retrieves ¢48m debt owed by commercial banks

The Ghana Exim Bank says it retrieved over ¢47 million owed by various commercial banks between 2009 and 2022.

According to the development bank, the banks indebtedness stood at over ¢100 million. These were loan advancements to Small and Medium Scale Enterprises.

Speaking at the Public Accounts Committee Hearing on progress made so far to recover the overdue loans, Chief Executive of the Ghana Exim Bank, Lawrence Agyinsam, said efforts are being made to collect all funds owed his outfit.

“Since the audit, we’ve recovered over ¢47 million from the Development Finance Institutions. What is left is over ¢55 million. These were monies that were paid indirectly [guarantees] by us through the DFI’s”.

He added that there are talks and negotiations ongoing for the restructuring of the loans.

“We went to Bank of Ghana, and they requested of us to have an alternative resolution by going to these banks to negotiate some of these loans to be restructured. And we’ve been able to recover ¢47 million”.

The Ghana Exim Bank was established to facilitate the transformation of Ghana’s economy into an export driven-one by supporting and developing trade lines for commercial banks that supports Ghanaian businesses.

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