The Development Bank Ghana (DBG) is preparing to support at least two textile projects by approving and disbursing credit before the end of 2026.
The report indicates that the Development Bank Ghana (DBG) is preparing to support at least two textile projects by approving and disbursing credit before the end of 2026.
It further notes that the projects are among five that have emerged from a dedicated textile sector deal room created by DBG and its development partners.
DBG Chief Executive Officer, Prof Randolph Nsor-Ambala, stated the five projects have already been presented to various participating financial institutions for consideration.
“As we speak, we have currently road-showed five of those projects that came out of that deal room across various participating financial institutions, and they’re at the various levels of approval,” he said.
“My sense of it is that before the end of the year, at least about two of them would have received credit approval and then disbursement.”
Prof Nsor-Ambala stated textiles is one of DBG’s priority areas under manufacturing.
He stated the bank is focused on textiles, pharmaceuticals and energy transition as key areas within its manufacturing mandate.
The CEO stated DBG’s support goes beyond providing credit.
It is also working on market development, capacity building, technical assistance and policy advocacy to address constraints within the sector.
DBG signed a three-year Memorandum of Understanding with the Association of Ghana Industries specifically to support the textile sector.
The agreement includes financing for textile businesses, market development and technical assistance to help businesses develop investor-ready projects.
Prof Nsor-Ambala stated the bank’s interventions have also contributed to policy changes affecting the sector.
He stated concerns raised during a textile sector roundtable organised by DBG included delays in the textiles and garment policy.
“Based on policy advocacy initiatives that we participated in, that policy has now been signed and approved by Parliament,” he said.
