Ghana Homes Loans, leading mortgage provider in the country has signed a US$10million loan agreement with the ECOWAS Bank for Investment and Development (EBID) to help deepen investment in the real estate sector.
Ghana Home Loans CEO, Dominic Adu who signed the agreement expressed his profound gratitude to the bank , describing the loan as being “immeasurable,” saying it would enable the writing of approximately 300 home loans for over 1,500 people and also offer job opportunities for several individuals in the country
“We believe very strongly that this is the start of a relationship that will be long lasting and to the mutual benefit of our two institutions. We share many things in common but the primary one is our shared belief in the social advancement of the people of our region,” Mr Adu said.
“Ours is expressed in the provision of housing and its contribution towards social stability and mobility of the people. In the same way the EBID’s is expressed in development of both the private and public sectors. So by working together we complement our efforts and impact,” Dominic Adu added.
President of the ECOWAS Bank, Bashir Mamman, said the facility brings the bank’s commitment to the Ghanaian private sector to US$160million, whilst its public sector commitments in Ghana amount to US$55million, making a total of US$215million.
He assured that the bank would continue to support the development of public and private sectors in Ghana and in other ECOWAS member countries in line with its mandate.
The ECOWAS Bank for Investment and Development was set up at the same time as the ECOWAS Commission in May 1975, to fund development within member states.