The RFSP of wich the institutional establishment of the ARB Apex Bank Ltd was a component, sought to promote growth and further reduce rural poverty by broadening and deepening the provision of financial services (savings and credits) in the rural areas through the following measures:

Strengthening the network of RCBs to enable them to fully impact on rural economic and social development;

Strengthening the network of microfinance institutions in order to enhance their operational effectiveness;

Fostering linkages between rural/community banks and the microfinance institutions in order to expand financial services to a large number of the rural population.

The Government of Ghana and its development partners - the World Bank, the International Fund for Agricultural Development(IFAD) and the African Development Bank (AFDB) - jointly sponsored the project with a facility of US22.9 million. The project had a duration of 6 years and ended in 2008.