CAL Bank, one of Ghana’s leading independent Bank’s has signed a US$10million loan agreement with PROPARCO; the private sector arm of the French Development Agency to support CAL Bank’s lending capacity in providing financing solutions to companies in Ghana.

CAL Bank over the years as part of its strategy raises funding from identified Development Financial Institutions; this source of funding has been instrumental in providing financing solutions to corporate customers of the Bank. Over the last 5 years the solid partnership between CAL Bank and PROPARCO has led to over US$25million being disbursed as loans to Ghanaian corporate organisations. Due to the diligent and efficient utilizations of funds, PROPARCO has made available an additional US$10million for disbursements.

The signing of the agreement took place at the Osu Castle on the 16th of July 2011 in the presence of H. E. President J. E Atta Mills and the French Prime Minister Mr. Francois Fillon between Mr. Frank Adu the Managing Director of CAL Bank and Mr. Dov Zera, Managing Director of the Agence Française de Développement Group.

Mr. Adu stated that as the opportunities in Ghana increase due to the expansion of the economy, CAL Bank would make judicious use of the funds by making them available to the productive sectors of the economy to further help propel the Country’s growth.