The General Public is being informed that following the coming into force of the Ghana Export—Import Bank Act, 2016 (Act 911) (EXIM), the Export Trade, Agricultural and Industrial Development Fund Act, 2013, (Act 872) (EDAIF) is repealed.
Despite the repeal of the EDAIF Act, the EXIM Act makes provision for any orders, directions, appointments or any other acts which were lawfully made or done by the EDAIF Board to be considered as made or done under the EXIM Act and these actions shall continue to have effect until reviewed, cancelled or terminated.
The transitional provisions of the new Act further provide that a contract subsisting between EDAIF and another person and immediately before the commencement of the EXIM Act, is deemed to exist between the EXIM Bank and the other person.
However, it is important to note that as a result of the repeal of the EDAIF Act, the EXIM Bank would not be in a position to consider applications for Funding under the EXIM Act may only be made in line with approved guidelines consistent with the EXIM Bank Act.
Thses guidelines which are currently being drafted will be published in due course.
For further information, please contact the various offices on the telephone numbers indicated below:
Accra, Head Office: 0302234668/9
Kumasi: 0578594353/ 05785994351
Signed: Dr. Barfour Osei
On behalf of the Honorable Minister for Finance
1st June, 2016
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