The African Development Bank (AfDB) is set to approve a $60 million concessionary loan to support Ghana’s government Planting for Food and Jobs programme in the northern part of the country.
The financial support is expected to impact about 500,000 farmers in the north, starting from the next farming season.
The loan will also help increase food production and create more jobs, especially in the northern savannah area where agricultural activities are limited to peasant farming.
The Planting for Food and Jobs initiative is a government flagship programme that seeks to encourage Ghanaians, especially the youth, to venture into agri-related businesses.
AfDB technical consultative meeting
The Minister of Food and Agriculture, Dr. Owusu Afriyie Akoto, explained that the board of directors of the bank was currently considering the government’s proposal for financial support submitted to the bank about six months ago.
He was speaking on the sidelines of a technical consultative meeting on the AfDB’s Transformation of the African Savannah Initiative (TASI) in Accra.
“The AfDB is interested in supporting farmers in the northern savannah, just like this TASI project. So the money will be used purposely for farmers in the savannah to help increase the reach of the Planting for Food and Jobs programme,” he added.