The RFSP of which 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 rural economic and social development; Strengthening the network of microfinance institutions to enhance their operational effectiveness;

Fostering linkages between rural/community banks and 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 $ 22.9 million. The project had a duration of 6 years and ended in 2008.