Development Bank Ghana, German Parliamentarians in Strategic Dialogue on Economic Empowerment and Green Financing

In a significant engagement underscoring international collaboration for sustainable development, Development Bank Ghana (DBG) hosted a distinguished delegation from Germany's Bundestag (Federal Parliament). The visit took place at DBG's headquarters recently. The German delegation was led by Mr. Volkmar Klein, MP, representing the State of North Rhine-Westphalia, and Mr. Lutz Lienenkämper, the State's former Finance Minister. They were joined by Mrs Ramona Simon, Deputy Head of Cooperation at the German Embassy in Ghana, alongside KfW Development Bank's officials, namely, Ms. Sarah Christin Petrenz, Senior Portfolio Manager, and Mr. Isaac Hagan, Portfolio Coordinator - Financial Sector, representing the German state-owned development bank's Accra office. Discussions during the meeting spanned DBG's forward-looking initiatives, including the Green Finance and Investment Facility and the DBG Guarantee product, highlighting DBG's commitment to fostering economic resilience and sustainability. The Green C redit Line (financed by the German Federal Ministry for Economic Cooperation and Development (BMZ), implemented by KfW) is envisaged to start implementation in the second quarter of 2024 in Ghana and is expected to complement DBG's efforts in green financing.  A focal point of the visit was the introduction of the upcoming 3i Africa Summit, slated for May 13th-15th, 2024, in Accra. This summit promises to be a ground-breaking event, focusing on technology opportunities within Africa's financial sector. It aims to explore market dynamics, the leapfrogging of legacy technologies, and the crucial dialogues needed at the intersection of policy, finance, and technology. With a core emphasis on inclusion and sustainability, the 3i Africa Summit aspires to drive meaningful discourse and actionable insights for the continent's financial ecosystem. The DBG team, led by Deputy Chief Executive Officer, Michael Mensah-Baah and including key officials such as Chief Risk Officer, Dr. Prince Adjei, and heads of various strategic departments, shared insights into DBG's operational strategies and its vision for a transformative impact in collaboration with its partners. Reflecting on the discussions, Michael Mensah-Baah remarked, 'The German Government, through KfW, has been very supportive of DBG and its efforts to foster economic growth by empowering local businesses. We have had fruitful discussions on our operations, our agenda for 2024 and how we are positioned for greater impact through our lending activities and technical assistance to local businesses in collaboration with our partner banks and agencies respectively. We look forward to our ongoing collaboration and believe that together with our German partners, we will be able to deliver significant transformation. We are primed for this.' Mr. Volkmar Klein, MP from the German State of North Rhine-Westphalia, on the other hand, commended DBG on the work it is doing and how far DBG has come. Development Bank Ghana is a wholesale financial institution established b y the Government of Ghana. DBG acts as a provider of long-term capital to the market with a mission to foster strong partnerships to finance economic growth, create jobs, and build capacity for SMEs. The organisation is committed, aligned and strengthened to achieve UN Sustainable Development Goals (SDGs) ambitions and targets while implementing an Environmental, Social, and Governance (ESG) strategy aimed at creating shared value and impact with purpose. The bank has received funding from the World Bank, the European Investment Bank, the KfW Development Bank and the African Development Bank.  Source: Ghana News Agency