uniBank Signs a Ten Million Euro Agreement with The European Investment Bank
uniBank (Ghana) Limited has signed a Ten (10) million Euro long term loan agreement with the European Investment Bank(EIB), the largest multilateral lender and borrower in the world.
The august ceremony which took place at the Movenpick Hotel, in Accra on Tuesday, 6th May, 2015, will enable uniBank extend loan facilities to its SME clients with tenures of up to eight years. Speaking at the forum, His Excellency, the EU Ambassador to Ghana, William Hanna said "This historic agreement is an illustration of the link between the EU and Ghana in support of private institutions to create development for the country".
Isaia Romolo, Senior Loans Officer of EIB, indicated that the European Union was working to ensure economic stability and financial inclusion in developing countries by supporting proficient banks to invest in projects. He signified that in approving loans, stringent procedures were employed to ensure that beneficiary institutions are financially robust, innovative and show capacity to use EIB funds for the right purpose.
In this light, the EIB found uniBank's strategy, vision, mission, loan portfolio mix, and risk management culture as appropriate in helping with the financial inclusion agenda of Ghana. He said uniBank fits within the EU's priority listing. The CEO of uniBank, Felix Nyarko-Pong, reiterated that the European Union through EIB in signing the accord was a good testimonial on the financial robustness of the Bank.
He said with the current difficult economic situation in the country, businesses are struggling to access long term funding and thus was happy for our customers, since this facility will enable the Bank, advance loans with tenures of up to 8 years to its SME clients.
He, therefore, assured customers that uniBank would continue to explore avenues for funding to cater for their varied needs. Present were a galaxy of media representatives who took turns to ask questions and answers were provided by both CEO, Felix Nyarko-Pong, H.E. William Hanna, E U Ambassador to Ghana and Isaia Romolo of the EIB.