Minister for Trade and Industry Alan Kwadwo Kyerematen has indicated that government has so far facilitated the establishment of a total of 278 companies and projects under its flagship programme, One District, One Factory (1D1F).
He announced that 106 companies out of the 278 are currently in operation whilst 148 are under construction with 24 of the projects at the mobilisation stage.
Mr Kyerematen disclosed these whilst answering a question from the Member of Parliament (MP) for Tamale Central, Murtala Muhammed Ibrahim.
The MP had asked the Minister to make available to the House, the number of factories set up in the last four years under the 1D1F programme and how much the government spent for their establishment.
“Mr Speaker, it is important to note that the 1D1F initiative is private sector-led but facilitated by the government.
“The role of the government includes payment of interest subsidy on loans granted to 1D1F companies and projects by Participating Financial Institutions (PFIs); granting incentives such as Waiver of Import Duties on capital goods and raw materials; and facilitation of access to infrastructures such as electricity, water, and roads”, Mr Kyerematen pointed out.
The Trade and Industry minister added that since the start of the Programme, the government has successfully mobilised loans for 1D1F companies from the Private Financial Institutions (PFIs), totalling GH¢2.69 billion.
“Mr Speaker, this amount has been leveraged through the disbursement of an amount of GH¢260.9 million by the government as a subsidy to de-risk loans and support interest payment for beneficiary 1D1F companies and projects,” he said.
