He charged the board to help initiate policies for the bank to pursue a growth agenda by involving the private sector in the bid to have access to affordable credit from the banks.

“We want to see a situation where the continuous drop in the policy rate will be transmitted into lowering lending rates from the banks.

“We also expect you to maintain macroeconomic stability and find a way to drive down interest rates for the private sector,” the Vice President said.

The 13-member board has the Governor of the Bank of Ghana, Dr Ernest Addison, as the chairman.

The governor’s two deputies, Dr Maxwell Opoku Afari and Dr Johnson P Asiama,  are also members of the board.

Other members of the board are Mr Charles Adu–Boahen, a deputy Minister of Finance, and Dr Sr Eugenia Amporfu.

The rest are Mr Keli Gadzekpo, Dr Kwame Owusu–Nyantekyi, Dr Samuel Nii Noi Ashong, Mr Jude Bucknor, Mr Joseph B. Alhassan, Mr Andrew Boye-Doe, Dr Maria Hagan and Mrs Comfort Ocran.