SMEs to benefit from Italian-Ghanaian Fund
At Business Sense 2011conference,delegates will be addressed by officials from a joint Italian-Ghanaian initiative (Ghana Private Sector Development Facility),established to provide credit facilities for Ghanaian SMEs.
Following the successful implementation of the Project financed by the Italian Government in 2003 for atotal amount of 11,000,000 Euro, the Italian Ministry for Foreign Affairs approved in December 2007 additional financial resources of 22,000,000 Euro (approximately45 million GHC) in order to continue to support the effort of the Government of the Republic of Ghana to promote private sector development.
The new phase of theProject, implemented in collaboration with the Ghanaian Ministry of Trade andIndustry, consists in two main components: a loan component of 20,000,000 Euro,used to establish a credit facility in favor of Ghanaian private Small andMedium Enterprises (SMEs), and a grant component of 2,000,000 Euro, whichcovers the operational costs and the technical assistance activities of theProject.
Beneficiaries of thisCredit Facility shall be only Ghanaian Small and Medium Enterprises whichfulfil the following eligibility criteria:
• The ownership of the enterprise must be 1000% private;
• The enterprise must be part of the production or of the service sector (i.e.farming activities are not eligible);
• The production activity of the enterprise must not harm the environment (i.e.wood processing activities are not eligible);
• The enterprise must not make use, directly or indirectly, of child labour;
• The operation of the enterprise must not have any direct or indirectconnection with military activities or weapons (including sporting fire arms,defence systems, military installations, military equipment and materials),tobacco processing and luxury goods.
Click here to registerand hear more about this facility at Business Sense 2011
This article was originally posted on West Africa Business Communities
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