Performance monitoring framework for financial institutions in the offing

The Ministry of Finance has commenced work on developing a performance framework for some key state financial sector players in the country.

Minister of State at the Ministry of Finance, Charles Adu Boahen,  said this is to allow the Ministry monitor the performance of these agencies on a regular basis  to ensure that they assist in policy formation .

He announced this in Accra  at a short ceremony to inaugurate the seven-member board of directors  of Exim Bank Ghana.

The board is chaired by Kojo Boateng  Gyamfi.

“Government is currently in the process of  implementing policy actions  to institutions such as  the Ghana Amalgamated  Trust, Ghana-Integrated-Incentive-based-Risk-Sharing System for Agriculture  Lending,  the Ghana Commodities Exchange , the Development Bank Ghana , the Venture Capital Trust  Fund and the Ghana Exim Bank as well as the Ghana Infrastructural Investment Fund and the Ghana Agriculture Insurance Pool to build an echo system that will provide an efficient way to provide support and to finance at least a hundred SMEs while creating a credit pool that will provide new jobs for our youths and citizenry.

“This in line with phase two of the Ghana CARES programme,” Mr Adu Boahen said.

To this end, he added “the financial sector division of the Ministry of Finance has been asked to develop the performance framework for these institutions so that their performances can be monitored and reported to the Minister of Finance on a regular basis.”

Source: 3news