Speaking at the event, the Chief Executive Officer for GEXIM, Mr Lawrence Agyinsam, said that as the lead financing institution mandated to support the One District One Factory program (1D1F),   GEXIM will be better positioned to empower and equip private-sector operators situated in each district to add value to their raw materials through processing through to   exporting.

H.E Stephanie S. Sullivan delivering her speech

He said it is   a milestone that will put to rest the idea that the 1D1F cannot come off because the funding will help to support the project. He added that it will support businesses from various sectors such as manufacturing, energy, garment making and agribusiness. GEXIM bank he disclosed, will however focus on areas such as raw material processing and packaging as well as the poultry industry in-order to cut down on poultry imports which currently costs Ghana about $350 million   per year. This will help local poultry farmers improve their productivity.
 

Deputy Minister for Trade and Industry (MOTI), Mr Robert Ahomka-Lindsey said that the ministry has set up a ten point agenda to aid Ghana's industrialization transformation project.   He said that one of the points on the agenda is the One District One Factory which will add value to Ghana's development.
Mr Lindsey said that a few challenges with the implementation of the project however is access to equipment and technology. He identified the importance of technology in adding value to products and said that the partnership will allow US technology aid Ghanaian businesses as well as set a framework for future relationships. The ministry he said looks forward to realizing the partnership between United States exporters and businesses in Ghana.
The United States Ambassador to Ghana, H.E Stephanie S. Sullivan said that bilateral trade between Ghana and the US totalled $1.4 billion in 2018   and hoped to see this figure increase substantially over the next three years.

She said that their aim is to see Ghana transform its manufacturing sector and send more exports to the US market. She noted the difficulty Ghanaian businesses and entrepreneurs face in obtaining affordable credit facilities for their business and said that the collaboration between the two Export-Import Banks will offer local businesses the opportunity to adopt cutting-edge US technologies and equipment to finance them.

Board Chair for GEXIM, Mr Kwadwo Boateng Genfi said that the projects earmarked under the 1D1F will be supported under this framework and will place private sector clients in the position to create the needed jobs, increase exports and help industrialize Ghana's rural economy.

The frameworks were exchanged between US representatives; Stephanie Sullivan, the U.S Ambassador to Ghana, Bonnie Cybulko, Vice President (acting) of EXIMS's Industrial and Project Finance Divisions and Ghanaian representatives ; Minister for   Finance, Mr Ken Ofori Attah, the Deputy Minister of Trade and Industry, Mr Robert Ahomka-Lindsey and the CEO of GEXIM, Mr Lawrence Agyinsam.

Transactions under the scheme will be approved individually and are subject to EXIM's due diligence in finding reasonable assurance of repayment and compliance with other EXIM requirements and policies.
The nonbinding cooperative framework agreement was signed on April 4, 2019 and will remain in effect through April 3, 2022.