ENTERPRISE DEVT

closed

The overall objectives of this project are to foster the growth of private Ghanaian exporters by (a) promoting a sustainable export finance system; (b) providing technical assistance to the banking and commercial export sectors to increase their efficiency and competitiveness; and (c) supporting in addition, the development of a business action plan to assess the legal and business requirements that will be a prerequisite to addressing a market-driven corporate restructuring program for potentially viable enterprises presently located in the Non-Performing Assets Recovery Trust (NPART). The project includes two principal components: (i) a revolving export credit refinance and guarantee facility (US$34 million equivalent) to assist private exporters except for cocoa, gold, diamonds, electricity, and raw timber in obtaining short-term and pre- and post-shipment finance from banks; and (ii) a comprehensive technical assistance component (US$7 million equivalent) to finance, firstly, management and technical training, consultant services, equipment and materials for strengthening the export finance infrastructure, and secondly, appropriate expertise to develop the legal and financial issues involved in preparing a business and action plan for dealing with restructuring viable companies under NPART.