GHANA’S PARLIAMENT APPROVES 39 MILLION USD FUNDING FOR SAVANNAH ZONE PROJECT
ACCRA — Ghana’s Parliament has approved a sum of 27,864,750 cedis (about 39.01M million US dollars) to part-finance the Savannah Zone Agricultural Productivity Improvement Project (SAPIP) which will cost a total of 56.69 million USD to implement.
Dr Mark Assibey-Yeboah, the Chairman of Parliament’s Finance Committee, said in a report that the project, to be implemented over a five-year period, from 2018 to 2022, was aimed at transforming the lives of the inhabitants of the savanna zone, a region characterised by its challenging agro-ecological conditions, low economic indicators and a historical deficit of public investments, in terms of infrastructure and services.
The Government of Ghana has requested funding from the African Development Foundation (ADF), an independent United States government agency, which approved a loan facility of 39.01 million USD for the project, which anchored on the government’s flagship agricultural programme, Planting for Food and Jobs and the One District, One Factory initiative.
The parliamentary committee’s report says the project is aimed at transforming agricultural value chains for food and nutrition security, job and wealth creation within the Savannah Zone, with specific aims to increase farmers’ food and nutrition security, increase incomes through increased agricultural productivity and diversification and enhance the creation and strengthening of agribusiness to increase incomes of actors along the selected value chains on a sustainable basis.
The project is divided into components — Crop Productivity Improvement; Value Chain and Agribusiness Development; Infrastructure Development; and Project Co-ordination, Management, Monitoring and Evaluation.
Source: NAM NEWS NETWORK