Government requests for $120 million from IFAD to boost agriculture
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Government requests for $120 million from IFAD to boost agriculture

- The Minister of Agriculture, Dr. Owusu Afriyie Akoto, has revealed that Ghana is set to secure about $120 million to boost food production

- The funds would be sourced from the International Fund for Agricultural Development (IFAD)

- Out of the amount, $20 million has already been processed and would be available in a few days

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Information available to YEN.com.gh shows that the government of Ghana, through the Ministry of Food and Agriculture, is seeking funds to boost the agricultural sector.

It has, therefore, reached out to the International Fund for Agricultural Development (IFAD) for $100 million in a bid to restructure the sector.

The first tranche of $20 million has already been granted and would be available in a few days.

READ ALSO: COVID-19: South Africa to save its economy with $26 billion

Per a report by classfmonline.com, the plan is to implement a strategy that would withstand the economic effects of the coronavirus.

According to the sector minister, Dr. Owusu Afriyie Akoto, plans are in place to ensure food security after the COVID-19 epidemic.

He explained that measures are being rolled out ahead of the upcoming planting season.

These include market surveillance, where market prices and food availability on the markets are monitored; provision of PPE for Extension Agents, development of guidelines for the production, public education through video and print and facilitating inputs distribution.

Medium-term actions include facilitating access to credit for producers, aggregators and processors; supporting NAFCO to mop up strategic stocks for food security, re-establishing early warning systems to provide regular updates on food situation and establishing COVID-19 Fund for Agriculture and Food Security

Meanwhile, Dr. Owusu Afriyie Akoto earlier told Ghanaians that it was needless to stock food amid the two-week partial lockdown of Greater Accra and Greater Kumasi.

According to him, Ghana has more than enough food for everyone. At a press conference in Accra on Monday, March 30, 2020, Dr. Owusu Afriyie Akoto said Ghana is not at war.

“We are talking about just two weeks and if we are successful with what we want to do, within the period of two weeks, we will be back to normal,” he said.

READ ALSO: COVID-19: World Bank freezes Ghana's 2020 debt of $500 million

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Source: Yen Ghana

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