The United States Government has partnered with two Ghanaian financial institutions, Absa Bank Ghana and Opportunity International Savings and Loans, to support $25 million in new financing for micro, small, and medium-sized enterprises (MSMEs) in Ghana’s agricultural sector.
The partnerships, led by the U.S. International Development Finance Corporation (DFC) in coordination with the U.S. Agency for International Development (USAID), will support up to $20 million in lending from Absa Bank Ghana and up to $5 million in lending from Opportunity International Savings and Loans by lowering risk and helping expand credit to regions and borrowers that do not typically have access to bank loans, particularly in northern Ghana.
“Agriculture is a vital contributor to Ghana’s economy, providing employment, food security, and nutrition,” said USAID/Ghana Mission Director Kimberly Rosen.
“The U.S. government is committed to helping Ghana fully maximize its agricultural potential by supporting the expansion of small businesses in the agriculture sector.
These partnerships demonstrate our ongoing commitment to the success of Ghana’s private sector, and economic growth in the country.”