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Government facilitates GH¢3bn loan to cushion private sector

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President Akufo-Addo says there are additional sources of funds available for private sector players to turn their companies around apart from the 600 million Ghana cedis stimulus package for Small and Medium Scale Enterprises, SMEs.

Speaking with the Tourism and Hospitality players at the Jubilee House, the President Akufo-Addo noted that an agreement has been reached between the Ministry of Finance and the Commercial banks to raise some three billion Ghana cedis as soft loans to private sector players, on a more flexible interest payment terms.

Another stimulus package underway, President Akufo-Addo said, is currently being negotiated by the Ministry of Finance and the Bank of Ghana to support and empower more productive sectors of the economy, which include the Tourism and Hospitality industry.

He assured the Tourism and Hospitality industry that, Government is in the process of accessing the impact of the pandemic on the industry, and subsequently fashion out strategies to mitigate their immediate challenges and address the larger concerns of post-Covid-19.

President of Tour Operators Union of Ghana, Kwesi Eyison appealed for a chunk of the 600 million Ghana cedis loan to SMEs to be channeled to the tourism sector.

President, Ghana Tourism Federation, Mrs. Bella Ayayee Ahu also made a case for a percentage of the 600 million Ghana cedis SMEs loan.

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