Ghana and AfDB sign $39m loan agreement to finance agriculture

Ghana and the African Development Fund (ADF) on Thursday signed a $39.01 million loan agreement to support government’s Flagship Programme in Agriculture: Planting for Food and Jobs (PFJ).

Mr Ken Ofori-Atta, the Minister of Finance, signed on behalf of the Government of Ghana, whilst Dr. Yero H. J. Baldeh, the Ghana Country Manager of the African Development Bank signed on behalf of the African Development Fund.

A statement issued by the Public Relations Unit of the Ministry of Finance said the loan is a concessionary facility to finance the Savannah Zone Agricultural Productivity Improvement Project (SAPIP) to be implemented over a five year period, commencing in 2018 and completing in 2022.

The development objective of the Project is to transform agricultural value chains for food and nutrition security and job creation within the Savannah Zone.

The specific objectives are to: increase farmers’ food and nutrition security, increase incomes through increased agricultural productivity and diversification and enhancing the creation and strengthening of agribusinesses to increase incomes of actors along selected value chains in a sustainable basis.

The four main components of the project are Crop Productivity Improvement Component, Value Chain and Agribusinesses Development Component, Infrastructure Development Component and Project Coordination, Management and Monitoring and Evaluation Component.

The project will directly benefit about 50,000 economically active small holders living in the savannah zone.

It will also contribute to the input support programme of the Ministry of the Food and Agriculture reaching about 250,000.

Source: GNA

Leave A Reply

Your email address will not be published.