An appraisal report conducted by the African Devlopment Bank (AfDB) has shown that the phase three of Ghana’s Rural Enterprises Programme (REP III) will cost a total of GH¢382.66 million.
The REP III will be financed by six bodies – the African Development Fund (AFD) of the AfDB (GH¢151.61 million), the International Fund for Agricultural Development (GH¢63.57 million), Government of Ghana (GH¢48.35 million), District Assemblies (GH¢78.74 million), Beneficiaries (GH¢23.08 million) and Participating Financial Institutions (GH¢17.31 million).
The programme is expected to start March 2013 and completed December 2017 with last disbursement of funds expected in March 2018, according to the report.
The project will be implemented in 161 out of 170 rural districts in Ghana.
According to the AfDB report, the sector goal of REP III is to improve the livelihoods of rural micro and small-scale entrepreneurs (MSEs).
The programme’s development objective is to increase the number of rural micro and small-scale enterprises that generate profit, growth and employment opportunities.
Officials say the current phase aims at scaling up the impact and outcome results of earlier phases (REP I and II).
Meanwhile the AfDB on December 20, 2012 approved a loan and grant totaling $76.5 million to support the Ghana REP III which is under the Ministry of Trade and Industry.
By Ekow Quandzie