The government disbursed GH¢273 million to the 15 participating financial institutions (PFIs) under the One-District, One-Factory (1D1F) programme between 2017 and 2021, the Minister of Trade and Industry, Alan Kyerematen, has told Parliament.
The amount painted the payment of interest subsidies to the money establishments to de-risk loans granted to beneficiary 1D1F firms, he explained.
The companies square measure into business enterprise, prescribed drugs, food and beverages, textiles, fertiliser, sugar process, among others.
Speaking on the ground of Parliament yesterday, Kyerematen said: “As of Dec 2021, GH¢156.9 million out of the GH¢273 million had been disbursed by the PFIs to the businesses.
“The remaining GH¢101.73 million, that is a command by thirteen PFIs, are going to be drawn down as and once interest payments related to the compensation of the loan facilities square measure due,” he said.
The minister disclosed this once he answered a matter on the ground of Parliament by the National Democratic Congress (NDC) Member of Parliament (MP) for Ellembelle, Emmanuel Armah-Kofi Buah.
The MP asked what proportion the govt., through the Ministry of Trade and trade, had disbursed as interest grant payments to finance 1D1F firms and comes, the names of beneficiary firms and therefore the quantity disbursed as interest grant to every company.
Responding, Kyerematen mentioned the names of the beneficiary PFIs and therefore the quantity every received as GCB (GH¢50.1 million), ECOBANK (GH¢32 million), SG-SSB (GH¢628,728), Universal acquirer (GH¢20 million), ADB (GH¢3.79 million), prudent Bank (GH¢80.3 million) and Consolidated Bank African country (GH¢23.1 million).
The rest square measure CAL Bank (GH¢6.7 million), normal chartered Bank (GH¢6.5 million), ABSA (GH¢7 million), Stanbic Bank (GH¢1.2 million), Republic Bank (GH¢1.5 million), African country EXIM (GH¢14.4 million) and Fidelity Bank (GH¢90,000).
He mentioned the beneficiary firms as Agro continent restricted (GH¢2.3 million), Aspee prescribed drugs restricted (GH¢402,572), Birim Oil Mills (GH¢1.17 million), Dannex Ayrton Starwin Plc (GH¢1.7 million), Kaskazini restricted (GH¢1.8 million), Amantin Agro process (GH¢3.4 million) and Central Sugar Company restricted (GH¢4.7 million).
Others square measure Wentech restricted (GH¢1.1 million), fell Industries restricted (GH¢3 million), Beatex restricted (GH¢2.3 million), Kinapharma restricted (GH¢4.3 million), Yedent restricted (GH¢2.3 million), Obibini Blackman Company restricted (GH¢3.9 million) Akosombo Industrials Company restricted (GH¢4.2 million), Conte Alessandro Volta Star Textiles restricted (GH¢6.57 million) and enzyme Premium Diapers restricted (GH¢2 million).
Besides, KYE restricted received (GH¢3 million), Strongmen Foods and Farms restricted (GH¢3 million), Josma lucent and trade restricted (GH¢4 million), Komenda Sugar Development Co. restricted (GH¢23 million), Ameen Sangari restricted (GH¢5.3 million), Ayum Forest restricted (6.5 million) and Western Steel formation restricted (GH¢10.7 million).
Other types of support
The minister same additionally, GH¢14.4 million disbursed to the EXIM Bank was wont to support alternative 1D1F sixty firms and comes.
The Trade Minister conjointly saw a matter on the explanations for the delay by the govt. to satisfy its promise of aiding pharmaceutical firms to pay the interest on their loans as participants within the 1D1F programme.
He same since the beginning of the programme, the govt. had, through the Ministry of Trade and trade, to an oversized extent ensured the timely unharness of funds as interest subsidies to de-risk loans provided by the PFIs to beneficiary firms, together with the pharmaceutical firms.
He said any delays that had occurred within the payment of interest subsidies may well be attributed to delays either within the unharness of funds from the Ministry of Finance or the process of loan applications of 1D1F firms by PFIs.