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02.03.2005 Business & Finance

Govt is committed to development of the Private Sector - JAK

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Accra, March 2, GNA - President John Agyekum Kufuor on Wednesday pledged the Government's commitment to develop and expand the private sector to play its role in the growth of the economy and job creation. He, therefore, commended the African Development Foundation (ADF) for providing the needed partnership to develop the sector.

"The Government appreciates your contribution to the private sector and the companies that you assisted are performing well," he said. President Kufuor made the pledge when an ADF delegation including Mr Nathaniel Fields, President of ADF; Mr Edward Brehm, Chairman of the ADF Board, paid a courtesy call on him at the Castle, Osu. Mr Fields said the ADF offered assistance to the private sector of stable governments and countries where the people had the ability to develop their entrepreneurial skills.

He said the performance of the private sector in Ghana was encouraging and that efforts would be made to provide the needed assistance to the sector.

The ADF is a United States agency that provides investment capital to small businesses in 15 African countries.

It is expected to approve 16 new trade and investment projects in Ghana over the next two years.

The ADF and the Government have agreed to commit up to 18 billion cedis annually to support capital investments in at least 40 Ghanaian small enterprises.

The delegation would also visit Benin and Mali.

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