Home / Knowledge / News / Textiles / Govt to provide low-interest funds to boost textile exports
Govt to provide low-interest funds to boost textile exports
May '10
According to Mahama Ayariga, Deputy Minister of Trade and Industry, an individual body will be developed to handle the Export Development Investment Fund (EDIF), which will provide funds for the growth and thereby, also promote the export sector.

The move is to financially aid operators of the textile and garment industries directly through the corporate body, than benefiting indirectly from banks that were permitted to provide the services.

Although, banks are permitted to provide EDIF services to potential clients, they instead market their own forms of credit products, which are expensive due to higher interest rates.

They refrain from mentioning the EDIF services as it is offered at a reduced interest rate and is far cheaper than the fiscal products offered by the banks to potential clients, said Mahama.

Although EDIF was formed under Act 582 in October 2000, the fund commenced operations only in July 2001 after the appointment of a Chief Executive, a thirteen member board and a secretariat.

EDIF aims in improving the economic development of Ghana by providing concessionary financial support for the growth and promotion of country's overseas sales.

Fibre2Fashion News Desk - India

Must ReadView All

Apparel/Garments | On 5th Dec 2016

EC proposes new tax rules to support e-commerce in EU

The European Commission (EC) has unveiled a series of measures to...

Apparel/Garments | On 5th Dec 2016

Traders to intensify adoption of digital payments

Adoption of digital payments in their existing business format would...

Textiles | On 5th Dec 2016

US textile & apparel exports down 6.44% in Jan-Sept ’16

The exports of textile and apparel from United States were down 6.44...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search