Government has signed a 39 million dollar loan agreement with the African Development Fund (ADF) to support government’s planting for food and jobs program.
The facility is to finance the Savannah Zone Agricultural Productivity Improvement Project (SAPIP).
A statement from the Finance Ministry and copied to Citi Business News said the project will be implemented over a five year period, beginning this year.
The project is scheduled to be carried out under four components namely; Crop Productivity Improvement Component, Value Chain and Agribusinesses Development Component, Infrastructure Development Component and Project Coordination, Management and Monitoring & Evaluation Component.
Among the objectives are; to increase farmers’ food and nutrition security, increase incomes through increased productivity and diversification, as well as enhance the creation and strengthening of agribusinesses to increase incomes of actors along selected value chains in a sustainable basis.
In all, the project is expected to directly benefit about 50,000 people in the savannah zone and 250 thousand people indirectly.
The Finance Minister, Ken Ofori-Atta, signed on behalf of the Government of Ghana, whilst Dr. Yero Baldeh, the Ghana Country Manager of the African Development Bank signed on behalf of the Fund.