Ministry Of Finance Inaugurates New Board Of Directors For ADB

Eight new Board Members of the Agricultural Development Bank (ADB) were inaugurated by the Minister for Finance in last Friday in Accra.

The Board Members include Alhaji Ibrahim Adam as Chairman, Ms Nancy Ampofo-Member, Dr Samuel Dapaah-Member, Dr Johnson Asiamah-Member, Mr Paul Ofori Agyiri-(Ag.DMD of ADB Finance), Dr Clemence Addaeh (Bank of Ghana), Major RTD.M.S.Tara (MOFEP), Mr Yaw Opoku Atuahene (M.D of ADB).

Addressing the inaugurates, the Minister for Finance and Economic Planning, Dr Kwabena Duffour, said agricultural finance continues to be an issue of concern to the government and therefore recognised the need to create a favorable policy environment to deal with the management of the risks associated with financing the agricultural sector.

Furthermore, the Minister stated that the banking community as a whole has to rely on the importance of agricultural finance to the growth of the economy.

“Agricultural is a chain activity with various segments in the chain which require adequate financing in order for the entire chain to perform efficiently and guarantee the recovery of the credit made to the operators in the various segments of the chain”, he observed.

He challenged the new Board Members to build on the foundation their predecessors has laid to maintain a large number of branches, field officers and small deposits or accounts in order to enhance its outreach.

The Chairman of the new Board, Alhaji Ibrahim Adam said that, the confidence the President has entrusted in them will not be abused and that they are ready to help management manage the bank’s risks.

He assured the Minister of their readiness to do their best to clear the backlog of work especially the loan application that is as a result of the change in government.

Source: ISD (Rachael Narh / Lydia Asirifi)