Government Sets Up $1 Million Revolving Fund to Support Local Farmers in Northern Ghana
The Minister for Food and Agriculture, Hon. Eric Opoku, has announced that $1 million out of a $20 million agriculture fund will be used to support local farmers in Northern Ghana and parts of the Oti Region.
Speaking during an address, the Minister said the revolving fund will help improve food production and reduce poverty in rural areas. He noted that this support is to ensure food security and help our farmers become more independent.
The selected farmers will receive the funds through Apex Bank, which has branches in many of the targeted communities. The money will be given with a 10% interest rate and a flexible payment plan. “Once the farmers are able to stand on their own, they will no longer need to rely on the fund,” the Minister added.
Hon. Opoku said that part of the fund will go into setting up mechanised boreholes powered by solar energy for female-led farms growing vegetables, tomatoes and other farm produce in these areas. This will make irrigation much easier, especially in the dry seasons.
In addition, 44 schools in the selected regions will receive similar irrigation systems to help sustain school farming projects throughout the year.
The Minister also revealed plans to support poultry farmers with startup packages. Some farmers will receive around 120 chicks, cages, and poultry feed. Veterinary officers will be assigned to assist with proper care of the birds.
He also mentioned that the Ministry is working on finalising an agreement with Apex Bank to officially begin disbursing the funds.
These measures, according to the honourable minister, are part of our broader plan to reduce poverty, ensure food security, and make agriculture more sustainable.
By: Julia Adu-Mensah
