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17.07.2004 Business & Finance

Stanchart to assist teachers

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Sunyani (B/A), July 17, GNA- Standard Chartered Bank (Stanchart) has signed an agreement with the Ghana Education Service (GES) to grant loans to teachers operating under the Ghana National Association of Teachers (GNAT) throughout the country.

The loan is to help teachers financially to enable them to perform their duties effectively.

Mr. Charles Appiah, a direct sales executive of the bank made this known at a meeting with about 300 GNAT teachers in the Sunyani on Friday.

He stated that Upper East, Upper West and Northern Regions had started benefiting from the facility adding that Brong-Ahafo was the next region to benefit.

Mr. Appiah explained that the basis for the loans depended on the applicant's salary, stressing that any one whose salary was less than 800,000 cedis would not benefit.

He said the loans ranged from eight million to 150 million cedis and said that would depend on one's salary.

He added that the bank would retrieve the money through the Accountant General's Department.

Nana Asante-Nketiah, Sunyani Municipal Secretary of GNAT on behalf of the teachers expressed gratitude to the bank and appealed to other banks in the country to emulate Stanchart.

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