SG-SSB to facilitate rehabilitation of Ghana's missions abroad

By Benjamin Mensah, GNA
Accra, Aug 26, GNA - Societe Generale Ghana (formerly SG-SSB) has signed a $ 50 million Credit Facility Agreement with the Government to finance the rehabilitation of some of Ghana Government Missions abroad.

Mr Cassiel Ato Forson, Deputy Minister of Finance and Economic Planning signed for the Government, while Mr Sionle Yeo, the Managing Director of Societe Generale Ghana initialled for the bank, at a ceremony in Accra.

The signing of the Credit Facility Agreement has come at a time to support Ghana to address some of the challenges faced by the Ghana Foreign Missions.

The Deputy Minister expressed the appreciation of the Government for the assistance, and pledged the Executive's commitment to partner financial institutions and other stakeholders in bringing development and social improvement programmes to the people.

Mr Yeo, in a comment, said it is the desire of the bank to partner Ghana in the socio -economic development of the country and to strengthen the already cordial business relations that has existed for many years between the Societe Generale Group, Societe Generale Ghana and the country.

He commended Government for championing rule of law and respect for human rights in Ghana, which have deepened the country's democracy.

He said: 'Societe Generale has significantly invested in Ghana's financial sector in view of the stable political environment and improving the economy with strong medium and long-term prospects.

'Therefore as a true development partner of Ghana, Societe Generale Ghana and the Societe Generale Group have financed various Government's...projects to the tune of $600 million between from 2009 - 2016.'

Some of the projects Societe Generale has financed totally or as a participating bank in a syndication include the Aboadze Thermal Plant; Fire Tenders for the Ministry of Interior; Steel Bridges for the Ministry of Roads & Highways; E-Government Project for the Ministry of Communication; 2 GRIDCo Transmission Projects; the Accra Streets Asphalting; the Kwame Nkrumah and Kasoa Interchanges and the Ghana Cocobod Cocoa Syndication since 1997 to date. GNA