The Savana Accelerated Development Authority (SADA) has disclosed its plans to establish a SADA Bank which would operate in its ecological zone.
Speaking at a Maiden Agriculture Sector Working Group meeting in Bolgatanga, Thursday, Director for Integrated Development Programs Dr. Emmanuel Abeere-Inga mentioned that processes are far advanced to establish the bank as part of SADA’s commitment to deliver on its mandate and quest to accelerate the development of the north in order to bridge the gap with the South.
According to him, the bank would not operate as a full commercial entity with the key purpose of making profit but instead give financial support to farmers to enable them grow more and in turn alleviate poverty.
“The bank would in fact operate as a regime development bank that would focus on giving financial support to farmers and not like a commercial bank to make profit.”
“We are waiting for some documents of approval from the ministry of finance” he said.
Dr. Abeere-Inga added that the African Development Bank has expressed interest in supporting the yet to be established SADA Bank with reference to a similar establishment in Nigeria which is being supported by the AfDB.
The Savana accelerated Development Authority is focusing on various areas including Health, Education, Infrastructure, Energy with much priority on Agriculture.
With collaboration and support from USAID, UNDP, World Bank and other major partners, the Authority is set to facilitate and accelerate development in its ecological zone through already existing institutions.
By: Azongo Albert | A1RADIOONLINE.COM | GHANA
